I have uninstalled Visual Studio Code, but the "open with code" option is still in my context menu when I right click a folder.
If I install VS Code again, it will keep the old option and adds a second entry which opens VS code.
This link will help you to modify registry.
Most of the menu items that used for all files and folders can be found at one of these keys:
HKEY_CLASSES_ROOT\*\shell
HKEY_CLASSES_ROOT\*\shellex\ContextMenuHandlers
HKEY_CLASSES_ROOT\AllFileSystemObjects\ShellEx