Selecting folder location is an option to choose the drive location for the installation of Creative cloud applications using Creative cloud desktop app. However the files which are synced will be available locally in a folder named "Creative cloud files" and on Adobe Creative Cloud.
This post is related to the way Adobe arbitrarily creates folders in many places (C:\Users\Pascal Garin\Documents with "Adobe" and subfolders, but also C:\Users\Public\Documents with "Adobe" and "AdobeInstalledCodecs") and so on.
I think that software editors should not touch to the personal folders such as My Documents, My Images, etc.: there are many other places to store useful information, such as C:\Users\Pascal Garin\AppData and its three subfolders. Or at least, by simple politeness, ask the user where these folders should be located (this is for example what Microsoft now does with the personal templates location).
I would also propose that the folder by default where synced files are stored (C:\Users\Pascal Garin\Creative Cloud Files) should be named simply C:\Users\Pascal Garin\Creative Cloud, removing the word "Files", very confusing in French for non-English speakers.