Change the location of the Steam screenshots folder?

It doesn't say it, but the screenshot folder option only affects the uncompressed copies:

In order to change the location where Steam saves the compressed screenshots (which Steam can upload to Steam Community and are saved in the remote folder) you will either need to install Steam elsewhere or use some symlink trickery:

1. Delete or rename the existing default folder Make sure that [remote] folder doesn't exist inside your [userdata/id/760] folder.

2. Launch CMD as admin : Press Win+X there you will find an item option to launch Command Line with Admin privileges and write the following command.

mklink /D [Steampath]\userdata\[id]\760\remote "N:\ew\path\to\Screenshots\"

And that's it, now you can see your screenshots inside that folder.

This is how to do it in Windows (source), for Linux, swap mklink /D to ln -s