Awesome news! We currently use the roundabout method of creating a system variable that points towards the user's OneDrive, then using Folder Redirection to move their folders to that variable. These new settings will greatly simplify things and I can't wait for it to be available in Intune as that is one of the last things that is really keeping us from going the whole Autopilot/Intune route (being able to make sure that a user's files are safely backed up off the device).
Are the ADMX/ADML templates available for download now? I didn't see a link to them in the post.
Edit: I found the ADMX/ADML files by following the steps in this support document. Just navigate to %localappdata%\Microsoft\OneDrive\BuildNumber\adm\ to see the files for your current version of OneDrive. My version, 18.116.0610.0002 does already have the Known Folders configuration settings in the ADMX, however there does not yet appear to be any settings for Known Folders in the client yet.