Here is a code that simulates what's the New... Folder menu does from a Console Application.

It opens a view on some folder and create a child folder in it, and enter name edit mode. It's using the Shell's IFileOperation interface and also ATL's smart pointers only for simplicity.

int main()
{
  CoInitialize(NULL);
  {
    CComHeapPtr<ITEMIDLIST> pidl;
    CComHeapPtr<ITEMIDLIST> newFolderPidl;
    CComPtr<IFileOperationProgressSink> sink;
    CComPtr<IFileOperation> fo;
    CComPtr<IShellItem> folder;
    LPCITEMIDLIST pidls = { nullptr };
    CFileOperationProgressSink csink;

    // get some folder's PIDL
    HRESULT hr = SHParseDisplayName(L"c:\\temp", NULL, &pidl, 0, NULL);
    if (SUCCEEDED(hr))
    {
      // open it and, for demo purposes here, selects nothing (pass a terminator PIDL)
      ITEMIDLIST idl = { 0 };
      pidls = { &idl };
      hr = SHOpenFolderAndSelectItems(pidl, 1, &pidls, 0);
      if (SUCCEEDED(hr))
      {
        // get a Shell Item from this PIDL
        hr = SHCreateItemFromIDList(pidl, IID_PPV_ARGS(&folder));
      }
    }

    if (SUCCEEDED(hr))
    {
      // we want to operate on files and directory using Shell's API
      hr = fo.CoCreateInstance(CLSID_FileOperation);
      if (SUCCEEDED(hr))
      {
        csink.QueryInterface(IID_PPV_ARGS(&sink));

        // create the new folder "New Folder", using the sink
        // we need a sink to be advised of what really is the new folder
        // we can't use the name we've passed
        // because it could have been changed like 'New Folder (2)' if there's already a 'New Folder', etc.
        hr = fo->NewItem(folder, FILE_ATTRIBUTE_DIRECTORY, L"New Folder", NULL, sink);
        if (SUCCEEDED(hr))
        {
          // commit
          hr = fo->PerformOperations();
        }
      }
    }

    if (SUCCEEDED(hr))
    {
      // we want the new child's relative-to-the-parent PIDL
      CComPtr<IParentAndItem> pai;
      hr = csink.m_newItem->QueryInterface(&pai);
      if (SUCCEEDED(hr))
      {
        hr = pai->GetParentAndItem(NULL, NULL, &newFolderPidl);
      }
    }

    if (SUCCEEDED(hr))
    {
      // now, select the new child and get into name-edit mode (from the parent again)
      pidls = { newFolderPidl };
      hr = SHOpenFolderAndSelectItems(pidl, 1, &pidls, OFASI_EDIT);
    }
  }

  CoUninitialize();
  return 0;
}

// the sink. this implementation's only interested by PostNewItem
class CFileOperationProgressSink : public IFileOperationProgressSink
{
  LONG m_cRef;

public:
  CComPtr<IShellItem> m_newItem;

  CFileOperationProgressSink() : m_cRef(1)
  {
  }

  STDMETHOD(QueryInterface)(REFIID riid, void** ppv)
  {
    static const QITAB qit[] =
    {
      QITABENT(CFileOperationProgressSink, IFileOperationProgressSink),
      { 0 },
    };
    return QISearch(this, qit, riid, ppv);
  }

  STDMETHOD_(ULONG, AddRef)() { return InterlockedIncrement(&m_cRef); }
  STDMETHOD_(ULONG, Release)()
  {
    if (InterlockedDecrement(&m_cRef))
      return m_cRef;

    delete this;
    return 0;
  }

  STDMETHOD(StartOperations)() { return S_OK; };
  STDMETHOD(FinishOperations)(HRESULT hrResult) { return S_OK; };
  STDMETHOD(PreRenameItem)(DWORD dwFlags, IShellItem* psiItem, LPCWSTR pszNewName) { return S_OK; };
  STDMETHOD(PostRenameItem)(DWORD dwFlags, IShellItem* psiItem, LPCWSTR pszNewName, HRESULT hrRename, IShellItem* psiNewlyCreated) { return S_OK; };
  STDMETHOD(PreMoveItem)(DWORD dwFlags, IShellItem* psiItem, IShellItem* psiDestinationFolder, LPCWSTR pszNewName) { return S_OK; };
  STDMETHOD(PostMoveItem)(DWORD dwFlags, IShellItem* psiItem, IShellItem* psiDestinationFolder, LPCWSTR pszNewName, HRESULT hrMove, IShellItem* psiNewlyCreated) { return S_OK; };
  STDMETHOD(PreCopyItem)(DWORD dwFlags, IShellItem* psiItem, IShellItem* psiDestinationFolder, LPCWSTR pszNewName) { return S_OK; };
  STDMETHOD(PostCopyItem)(DWORD dwFlags, IShellItem* psiItem, IShellItem* psiDestinationFolder, LPCWSTR pszNewName, HRESULT hrCopy, IShellItem* psiNewlyCreated) { return S_OK; };
  STDMETHOD(PreDeleteItem)(DWORD dwFlags, IShellItem* psiItem) { return S_OK; };
  STDMETHOD(PostDeleteItem)(DWORD dwFlags, IShellItem* psiItem, HRESULT hrDelete, IShellItem* psiNewlyCreated) { return S_OK; };
  STDMETHOD(PreNewItem)(DWORD dwFlags, IShellItem* psiDestinationFolder, LPCWSTR pszNewName) { return S_OK; };
  STDMETHOD(PostNewItem)(DWORD dwFlags, IShellItem* psiDestinationFolder, LPCWSTR pszNewName, LPCWSTR pszTemplateName, DWORD dwFileAttributes, HRESULT hrNew, IShellItem* psiNewItem)
  {
    if (SUCCEEDED(hrNew))
    {
      psiNewItem->QueryInterface(&m_newItem);
    }
    return S_OK;
  }
  STDMETHOD(UpdateProgress)(UINT iWorkTotal, UINT iWorkSoFar) { return S_OK; };
  STDMETHOD(ResetTimer)() { return S_OK; };
  STDMETHOD(PauseTimer)() { return S_OK; };
  STDMETHOD(ResumeTimer)() { return S_OK; };
};