How to configure Archive folder for Outlook in iOS Mail
Unfortunately, this is a function of Exchange, not the Mail.app or macOS.  

The Exchange server is looking for a folder called "Archive" on the server itself so when you rename the folder, it can't find it so it creates a new one.  Then Mail syncs with the Exchange server bringing the "Archive" folder back.

You'll have to file a bug report with Microsoft or just tolerate the English spelling of "Archivio."