How to Hide the Path Next to your Project in IntelliJ

Since the 2018.1 version, it's now possible to hide that path by using a special/internal option (check this comment for details).

For this, you need to perform the following steps:

• Use Main Menu | Help | Search Everywhere ... inside the IDE
• When you finally have the search box modal, enter Registry
• Then search (you can type) for the following config and set it to false
  project.tree.structure.show.url
• Save the registry config
• Restart your IDE to see the changes