To display a (potential) long path shortened in the format shown above,
you may use the function MinimizeName from Delphi's unit FileCtrl.
In case you were using a TLabel, you can register the component
TPathLabel (declared in the same unit); TPathLabel uses MinimizeName
to display the caption.
// \Delphi\Source\Vcl\FileCtrl.pas
unit FileCtrl;
function MinimizeName(const Filename: TFileName; Canvas: TCanvas;
MaxLen: Integer): TFileName;
type
TPathLabel = class(TCustomLabel);