You're hitting the Windows limitation on maximum path length, which is 260 characters.
The linked article also mentions a workaround to use extended-length paths up to (approximately) 32767 characters long – add \\?\ before the drive name. For example:
ChildFolderPath = "\\?\C:\MyFolder"
As also noted in that article, even though you can create extended-length paths programmatically, the Windows shell (e.g. Explorer) may be unable to handle them properly. For example, you may get the "The source file name(s) are larger than is supported by the file system" error when trying to delete a long path folder from Explorer or the command prompt.