For the longest time (years!), 'Shared With Me' folders in Google Drive has been a major bugbear for me. Various organisations have shared tons of Google Drive folders with me and I thought that they could only be accessed via the web browser. This made it very time-consuming to view, edit and move files.
WELL NO MORE!
'Shared With Me' folders can be added to your Google Drive folder and synced down to your local drive. These shared folders do not utilise your Google Drive storage, but will utilise your local drive's storage.
2 Google Help resources that explained how it is done: