Hi Aditya,
As per the description, it seems like you want to change the OneDrive local sync folder name showing in File Explorer with the complete system path C:\Users\username\OneDrive - TenantName. Please correct me if I made any misunderstanding.
Currently, there has no out-of-box way to change the OneDrive sync folder name, but many users have the same requirement as yours. Checking in OneDrive · Feedback Community (microsoft.com). You may raise your own voice or vote on them so that the OneDrive product development can get informed the requirement and improve in the future updates.
Besides, there has a workaround to edit in Registry Editor: Change default name for OneDrive For Business folder - Microsoft Q&A, but it is not highly recommended for end users to make changes in Registry that may cause some issues for the entire system. If you want to give it a try, please make sure to backup first. How to back up and restore the registry in Windows - Microsoft Support
Please let me know if there have anything else I can do for you. Hope you a nice day and stay safe!
Best Regards,
Mia