As a seasoned Windows and iOS specialist with years of hands-on experience optimizing user setups, I've guided many through this exact process. iTunes lacks a built-in option to change its default backup location—and the newer Windows Store version doesn't improve on this.
This can be frustrating on systems with limited SSD space for the OS and larger drives for data. The good news? You can redirect backups using Windows 10's native symbolic links—no third-party tools needed.

Symbolic links act like portals, redirecting files seamlessly to your chosen drive or partition. We'll also migrate existing backups safely.
Ready to reclaim space on your primary drive? Follow these proven steps for both desktop and Windows Store iTunes versions. Pay close attention to version-specific differences.
Note: Removable hard drives work well, but avoid USB flash drives due to reliability issues.First, prepare your new backup folder, then locate and modify the current one. Paths differ by iTunes version.
Step 1: Create a new folder, like New iTunes Backup on the root of D: drive (or your preferred location). Note the path for later.
Step 2: Press Windows + R to open Run.
For desktop iTunes, enter: %APPDATA%\Apple Computer\MobileSync
For Windows Store iTunes, enter: C:\Users\[USERNAME]\Apple\MobileSync (replace C: and [USERNAME] as needed).

Click OK to open the folder.
Step 3: In the MobileSync directory, rename the Backup folder to Backup.old (press F2 or FN+F2). This holds your existing backups temporarily.

Step 4: Hold Shift, right-click empty space in File Explorer, and select Open PowerShell window here.
Step 5: Run the appropriate command (adjust paths):
Desktop iTunes: cmd /c mklink /J "%APPDATA%\Apple Computer\MobileSync\Backup" "D:\New iTunes Backup"
Windows Store: cmd /c mklink /J "C:\Users\[USERNAME]\Apple\MobileSync\Backup" "D:\New iTunes Backup"
Note for advanced users: cmd /c bypasses PowerShell's mklink limitations.Step 6: Press Enter. A new Backup symlink folder appears—it functions like a regular folder but stores data at the target location.
Close PowerShell.
Step 7: Cut contents from Backup.old and paste into the new Backup folder. This copies to your new location (may take time).
Note: Files appear duplicated but only exist in the new location, saving space.
Step 8: Test with a fresh backup: Connect your iOS device, open iTunes, go to Summary, select This Computer, and click Back Up Now.
Verify the new backup in your target folder by timestamp. Restores work seamlessly, including archives.

Perfect! For removable drives, ensure consistent connection and drive letters.
To revert: In MobileSync, open PowerShell (Shift + right-click), then run: cmd /c rmdir "D:\New iTunes Backup" (adjust path).
Create a new Backup folder and copy back contents. Back to default.
Apple should add native backup relocation—especially with 50GB+ iOS storage. Until then, symlinks are a reliable workaround I've used successfully for years.
Worked for you? Issues? Share in comments—happy to help.