Various work arounds exist, and because I have to keep doing this every few years mine is below. But it shouldn't have to be this hard so please upvote this idea or even better: upvote the original idea from 2017!.
After installing Dropbox through Sydney University business account, it creates a folder called "Dropbox (Sydney Uni)" in my home directory by default, which breaks all my code in shared projects. So I want to rename the default folder to "Dropbox" (I don't have a personal Dropbox account).
After installing Dropbox and once it has finished downloading all my files to the default directory, the blue badges will disappear and be replaced with a green tick on all the completely downloaded files. I am now ready to begin.
1. Quit Dropbox (select the cog in the Dropbox menubar item).
2. In Finder, rename the "Dropbox (Sydney Uni)" folder to "Dropbox"
3. Open Terminal and navigate to your home directory
4. Create a symlink to the "Dropbox" folder with the same name as the default Dropbox directory (in my case "Dropbox (Sydney Uni)")
ln -s Dropbox Dropbox\ \(Sydney\ Uni\)
5. Hide the new symlink so you don't have to be reminded of the stupid decisions of the Dropbox development team every day
chflags -h hidden Dropbox\ \(Sydney\ Uni\)
6. Check my work
drwx------@ 12 rich staff 384 19 Nov 21:10 Dropbox
lrwxr-xr-x 1 rich staff 7 19 Nov 21:27 Dropbox (Sydney Uni) -> Dropbox
7. Restart Dropbox. It shouldn't complain about anything since it sees the new symlink as the default folder