There are workarounds for Windows and Android.
Windows
How to sync folder with desired shared folder name:
Create empty folder with desired shared folder name, e.g. Documents on Laptop.
Create shared folder using it.
Disconnect shared folder.
Connect shared folder using real data location, e.g. Documents.
Android
How to create backup with desired shared folder name:
Unlink your device from your identity.
Create backup, e.g. enable photos backup.
Open backup settings and copy link.
Edit shared folder name, e.g. change DCIM to MotoZ3_photos_backup.
Connect shared folder to your identity using this link.
Confirm connection on your device.
Link your device to your identity.
This workaround was not tested for behavior on disabling and reenabling backup on your device or on further unlinking device from your identity and relinking it back.