Specified folder path to select file path

Replace your current macro code to the following:

Sub Select_Save_Location_and_Hyperlink()
    Dim rLastCell As Range
    Dim Cell As Range

With Application.FileDialog(msoFileDialogFolderPicker)
  .InitialFileName = ActiveWorkbook.Path
  .Title = "Please choose a folder"
  .AllowMultiSelect = False
  If .Show = -1 Then Range("B5").Value = .SelectedItems(1)
End With

    Set rLastCell = Worksheets("YourWorksheet").Range("B" & Cells.Rows.Count).End(xlUp)
    
    For Each Cell In Range("B5", rLastCell)
        If Not IsEmpty(Cell) Then _
            Cell.Hyperlinks.Add Cell, Cell.Text, TextToDisplay:="Folder Path"
    Next Cell

End Sub

Change ("YourWorksheet") to the name of the sheet where the file path will be created. This is a combination of the first code I provided and the code I gave you the link for above. It works for me to select the file path and then make that path into a link to the folder you selected. I couldn't get it to work with your original code. This doesn't do exactly what you wanted but it does make it a quick process to open the folder where files are saved so you can open them whenever you want.