Add this function to your PowerShell profile so you won't see the full path of the working directory on the prompt. Once you've configured your profile, restart PowerShell and try any of the options for the prompt.

profile.ps1

function demo {
    param (
        [parameter()]
        [ValidateSet('v', 'n', 'r')]
        [string]$Option = 'v'
    )
    switch ($Option) {
        # hide PS version
        'n' {
            function global:prompt { "PS > " }
        }
        # reset prompt
        'r' {
            function global:prompt { "PS $($executionContext.SessionState.Path.CurrentLocation)$('>' * ($nestedPromptLevel + 1)) " }
        }
        # show PS version
        'v' { 
            function global:prompt { "PS$($PSVersionTable.PSVersion.Major).$($PSVersionTable.PSVersion.Minor) > " }
        }
    }
}


# Change prompt to "PS [version] >"
#demo demo v
# Change prompt to "PS >"
#demo n
# Reset prompt
#demo r