Where is my DerivedData folder for Xcode

My DerivedData folder is supposed to be in Library/Developer/Xcode/DerivedData. Why is it not there. Is there a setting in Finder that is hiding files from me? Did my Xcode get installed with folders in a different location than usual?

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You can choose the location of the Derived Data folder.

Xcode > Preferences > Locations > Derived Data

The "Default" location is in the user's Library folder (which is a hidden folder, of course).

If you click on the arrow, you will be directed directly to the folder in Finder: