Hi Russss,
When checking Finder > Preferences, are you seeing the folder listed, or add favorites from the list?
Change Finder preferences on Mac
If this was an iCloud folder.
"On your Mac
You can find your Desktop and Documents folders in the iCloud section of the Finder sidebar. If you add a second Mac Desktop, you can find those files in the Desktop folder in iCloud Drive. Look for a folder with the same name as your second Mac. You can also use Spotlight to search for specific file names. "
Those steps can be found here: Add your Desktop and Documents files to iCloud Drive
Missing folders is odd, test booting to safe mode and checking for the file and folder again as well.
How to use safe mode on your Mac
"Intel processor
- Turn on or restart your Mac, then immediately press and hold the Shift key as your Mac starts up.
- Release the key when you see the login window, then log in to your Mac.
- You might be asked to log in again. On either the first or second login window, you should see ”Safe Boot” in the upper-right corner of the window."
If you use Time Machine check for local snapshots for your information as well. About Time Machine local snapshots
Cheers.