How to avoid using "cloudstorage"-folder

I am using OneDrive on my MacBook Pro from december 2021. I am using an external SSD-disc for my OneDrive/Sharepoint files which I share with others. My files are on a disc as the data is 2TB and my Mac only has 1TB HDD.

Now all of a sudden my files on the external SSD-disc have vanished, and instead I have only a reference to the new location, which is users/mie/library/CloudStorage/OneDrive-SGArmaturenAS.

How can I avoid using the "Cloudstorage"-folder and move my files to the external SSD-disc again?

IOS: Monterey 12.2

I have removed and re-installed OneDrive a number of time using "Delete app" with the same result. When I choose the external SSD-disc (or any other place) for my files, I end up with a reference and my files in the "CloudStorage"-folder.

I download OneDrive from Microsofts homepage.