A free light has no target sub-object. You can aim it by using transforms.
Viewport representations of a Free light with spherical, spotlight, and web distribution
To create a Free light:
The light is now part of the scene. Initially it points away from you in the viewport you clicked (down the negative Z-axis of the viewport).
You can position the light and adjust its direction with the transform tools or by using a Light viewport. You can also adjust the light's position with the Place Highlights command.
To adjust the light position:
You can also right-click the light and choose Move or Rotate from the quad menu Transform quadrant.
To change a viewport to a light view:
3ds Max opens the POV viewport label menu.
3ds Max opens a submenu that shows the name of each light. By default, Free Point lights are named PhotometricLight01, PhotometricLight02, and so on.
The viewport now shows the light's point of view. You can use the Light Viewport Controls to adjust the light.