I can't say that this works on Big Sur but it does on Mojave and earlier versions of OSX. If it can be done using the above recommendations, I'd do it that way, but this info may be useful for other folders.
I have used Symbolic links for years. My Documents, Pictures, Downloads and many large DAW and audio files are stored on a hard drive, while my OS is on an SSD. My OS SSD drive has only about 150 GB (It also has all my apps on it), while the other hard drive has about 300GB of files. The reason I did this was to create my own "Fusion" drive without really having to create an "official" one and use a small SSD. Bear in mind that if you are using an external drive, it will be slower than internal.
I probably should have used aliases as these are more robust, but when I started doing this years ago, I got advice to use Symbolic links and I've stuck to them so far but have plans to try aliases instead.
Aliases are much easier to create than Symbolic Links and don't need the terminal (or special app) to create so I'd avoid them and give this a try with aliases.
Preference of course is to use the other input above and use the app to re-locate first if that will give you the result you need. You won't need to change any apps though if the alias method works, because the alias behaves just like it was the original folder.
It takes a while to set it all up but after that it has worked well for me.
If you are going to try it, make sure you have a backup and try it on one folder only first, preferably one with not much in it. I find that renaming the folder you want to move instead of deleting it is a safe method, you can delete it later, and remember that the alias should be of your TARGET folder, not the one you are replacing.
caveats:
- I don't use Big Sur so someone else can advise whether or not it has reasons why this won't work.
- Make backups of the folder you are moving before deleting the original
- If you are not comfortable with this, just stick to the advice given above.
- edit: Not sure about this but if the external drive with your stuff on it is not connected, the alias has nothing to point to and your system may just re-create the folder if it needs it, putting you back to square one.
I thought twice about posting this, but I've written it now...please take it FWIW.