Hello @Djones4822,
this is a really great question. Thanks for raising it.
I wonder what other think about it. My general best suggestion is to use metadata promotion (export / import spks), without the dependencies and in the right order od dependencies.
In that way, wehn you import, the import wizard will prompt you to provide the new mappings for its dependencies of the object.
However, once this is done, you probably should reload the data, and you might need to adjust any code/based operation, such as data queries and such, enything that would be using SAS metadata paths. Hence, you might want to do a good inventory upfront and action plan.
Your metadata security might suffer too, in the sense that the security will change after the folder structure change, right?
In any case, if you have a development/test environment, better to start there, to ensure there is no impact in your production environment, but also to ensure every step is clear and recorder when you apply it in production, to reduce time and even possible downtime to minimum.