This is called the Breadcrumb. For the available options related to it, please navigate to Dashboard > Theme Settings > Single Product > Elements > Breadcrumbs & Products navigation > there you can find the available options related to it: https://snipboard.io/lrT0Yv.jpg
Sorry to say but this specific concern of yours isn’t Theme related because the Permalinks options & structure are provided by WordPress end. You can check out the WordPress guide too in this regard: https://wordpress.org/support/article/using-permalinks/
Actually, the structure in the Breadcrumb that you are seeing for the Single Product page comes from the WooCommerce end in the way, the Products are tagged in the Categories.
Actually, as we mentioned you the Category selection option is default enabled from WooCommerce end.
So, kindly please check how it works with some default WordPress themes like TwentyTwenty or WooCommerce Storefront to understand is it our theme issue or not?