Hi everyone, seeing some new activity here, just wanted to leave out the solution that worked best for me.
Ares9323’s advice seems solid, however I screwed up the execution, so instead went with the frustrating and boring option of reinstalling Unreal Engine 5 in a new drive entirely. It’s not ideal, but it solved the issue of trying to relocate the DerivedDataCache folder.
If anyone has a better solution, you’re more than welcome saying it. Many would love to hear it.
Cheers.