If you are a "global admin" of the Office installation which gives you the business OneDrive, then changing the OneDrive root folder name is easy without changing the registry or adding filesystem links, because "Currently, updating the organization name does not update it for configured clients." (https://docs.microsoft.com/en-US/microsoft-365/admin/manage/change-address-contact-and-more).
This means, in summary, that you can change the organization name to anything you like, call it string S, trigger each OneDrive installation to use the new name, then change the organization name back to what it should be for billing, etc.
This works for me as of day of posting on my Windows 10 Pro machines, which are not associated with a Windows domain.
- Log into Office admin center (admin.microsoft.com). Go to Settings >
Org settings page > Organization profile tab > Organization
information. Change the "Name" to the string you want to use,
and save the changes. For new OneDrive installations, your root
OneDrive folder name is required to be "OneDrive - S". Existing
installations will NOT be changed.
- Steps 2-4 must be done for each OneDrive root folder whose name
should be changed (i.e., repeat for each user/machine). In OneDrive
settings, unlink the PC. OneDrive will probably pop up a new sign-in
window, which you can leave open.
- In Explorer, change the root OneDrive folder name to "OneDrive -
- Return to the OneDrive sign-in window (or launch OneDrive again; or
open another running OneDrive such as a personal OneDrive and "add
account" in settings). Sign in with the business credentials and
proceed to the screen which lists and confirms the location of the
OneDrive. The default OneDrive folder root name will be your new
name. (If you've moved the location of the OneDrive root folder, you
may need to navigate there. Wherever it is located, the root folder
name must be "OneDrive - S".) On the next screen, you will get
warning that the selected location already exists and has files in
it, and you get the choice whether to re-use the folder or create a
new one. Choose to re-use. OneDrive will go comparing all the
contents looking for changes. Assuming the folder was synced before
you started and no changes in the cloud while you worked, OneDrive
will simply count down from the total number of files to zero,
making no changes to your local folder.
- Go back to the online admin center and change the organization name back to
whatever is right there. The documentation link above lists where
that name is used across the Office environment.