Welcome to Seven Forums siliconman01. Only took you 3 years to have a problem to post?
I can find very little reference to WebcacheV01.dat at all. Mostly just logs saying
taskhostex (1768) An attempt to open the file "C:\Users\Damien\AppData\Local\Microsoft\Windows\W ebCache\WebCacheV01.dat" for read only access failed with system error 32 (0x00000020): "The process cannot access the file because it is being used by another process. ". The open file operation will fail with error -1032 (0xfffffbf8).
Or similar. Is the file getting abnormally large, or do you just want to keep control of everything? I can understand that. But hopefully someone who has IE10 installed will comment. I doubt they would know about limiting the size of a dat file though. I suspect you could delete it and it would be recreated, but I won't suggest that. Good luck. A Guy