Since 2018.1 version it's now possible to hide that path by using a special/internal option (check this comment for details).
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For this, you need to perform the following steps:
- Use
Main Menu | Help | Edit Custom Properties...
inside the IDE - Agree to create a file if it does not exist
- Insert the option below
project.tree.structure.show.url=false
- Save the file
- Restart your IDE to see the changes
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