Hi @Jennifer_Greb, welcome to the Community Forum!
You can drag-and-drop projects or Favorites into the order you prefer. To be able to create sections in your Favorite bar, you can create a fake project called “------Current Projects------” and mark it as favorite. This project will appear in your favorites and you will be able to move projects under this section to separate from the others.
You can also find some tips in this thread: Question on overall organizing
I hope this helps! Let me know if you have any questions.