Yes. The above instructions are definitely dated as there is nothing in "advanced settings" that deals with the scheduling folder location.
I've poked around on my O365 account and O365 Outlook. I can't find anything that deals with the scheduling folder either.
Dominick
So I too found a random folder of mine had been delegated as the system folder for scheduled items. I use the scheduling swipe action, as I often need to read the email later and scheduling (as apposed to marking unread) is a great way to remind me to read that mail.
So, because this "Scheduled" folder I assume needs to be a system folder of some kind, instead of creating a new folder called scheduled and try figure out how to direct my swiped scheduled items to this new folder, I simply renamed the incorrectly chosen folder (In my case it was called FreshDesk which was also the target folder for a rule I have to organise those emails). I then created a new folder called FreshDesk, moved all the items from my scheduled folder to FreshDesk and updated my rule.
Now the folder makes sense to me because it's called Scheduled and Not FreshDesk. I swiped a mail in the Outlook for Android app and it moves to the right folder and is not intermixed with my FreshDesk stuff.
Also didn't need to figure out where in the app I change the destination folder for scheduled. I hope this works for people using other languages, because I know system (default) folders are called specific things in other languages.
Hope this helps
Matt