Hi,
Last time we checked, it could be safely ignored. If you install the same packages with Arduino IDE, it just silently skipped these long paths, and everything still got built just fine. So, we just replicated its behavior, but added a warning just in case.
We would advise against registry hacks, as it could have some weird side effects (e.g. cause some internal errors in gcc). You can also try convincing Espressif to update their package structure, as it might eventually start causing problems for Windows users.