Here is some update. I was able to solve this
partially. I hope it will help someone in a similar situation. In my Jenkins Script (Scripted, I hope it will work in Declarative approach too), I made the following changes in my checkout step.
checkout([$class: 'SubversionSCM', excludedRegions: '.*SubFolder1.*', filterChangelog: false, ignoreDirPropChanges: true, locations: [[cancelProcessOnExternalsFail: true, credentialsId: 'MyCredential_ID', depthOption: 'infinity', ignoreExternalsOption: true, local: '.', remote: "${SRC_SVN_URL}"]], quietOperation: true, workspaceUpdater: [$class: 'UpdateUpdater']])
However, now the challenge is to exclude multiple paths. As per the documentation for ExcludedRegions, every path (folder) should be in a newline. I am not sure how to specify that in the checkout step. I tried various ways, but no luck yet. If someone can please help me, it will be great.
Regards,