@tylorxmalcolm The game location setting only covers the location of the game's program files, not the user folder. The point of the symlink is to redirect the user folder; it doesn't have anything to do with where the program files are located.
For the symbolic link, try using the full file path in the command instead of %userprofile%. To confirm the file path, you can right-click the folder where you want the symlink to go and select Properties > General, then find the Location. So, for example, perhaps this is where you want the symlink to go:
C:\Users\Fakename\Documents\Electronic Arts
The command would then become this:
MKLINK /J “C:\Users\Fakename\Documents\Electronic Arts\The Sims 4” “E:\The Sims 4”
Except that you'll change the E:\The Sims 4 to the correct location for your Sims 4 user folder, wherever you've pasted it.
If this doesn't help, please post a screenshot of the command prompt window after you've run the commands so I can take a look. Please also list the full file path to the Sims 4 user folder, wherever you've placed it.