Where is the HotSpare disk located if the RAID System is set to 5+HotSpare? If I replace the failed disk with a new one, what will happen to the new replaced disk?

When a failed disk appears in a set of RAID 5+HotSpare, the original HotSpare disk under HDD 1 slot will become the target rebuild disk (please see the user manual under RAID 5+HotSpare section). The newly replaced disk inside the RAID System will become the new spare disk in case another failure occurs in the future.