Change iTunes backup location v2

iTunes consistently attempts to store device backups on C: regardless of where it is installed. I need to change this location in order to backup devices to my PC.

I currently have 2 hard disk in my PC (C and D). C is a SSD used for Operating System Files whereas D is used for other matters and I have 1TB in there.

I purposefully installed iTunes to D: and have (manually) moved my iTunes library to D:, but I cannot get iTunes to natively recognize D: as a storage location.

I tried to do a link via PowerShell, linking the old Backup folder to a new location in Hard Drive D. However, upon attempt to "Back Up" the file again, I came across an error in iTunes saying

"iTunes could not back up the iPhone "Joel" because an error occurred while reading from or writing to the iPhone."

Appreciate if someone could assist me on this? Thanks in advance!