Use a shorter path; Win32 does not support longer paths than this. Shorter directory names or less deeply nested hierarchies can help. The path to where you are the project files is already so long, so when it tries to generate the file in the debug subdirectory, the maximum path length is exceeded.
NTFS, the native NT APIs and the Win32 APIs with \\?\ Support much longer paths. But for the โnormalโ path, Win32 is limited to 260 characters for historical reasons. In particular, C programs rely on the fact that the 260 char buffer can contain any path. The part of Microsoft that is responsible for the Win32 API is very careful not to compromise compatibility with older programs.
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