Unfortunately we don't yet have this functionality. There is a suggestion on the roadmap portal to have this incorporated into the Clone feature and you can vote for it here: Zephyr Scale Product Roadmap
Have you tried using the Test Case import feature (to create your folder structure) and then used the "..." on a folder to create your Test Cycles? Perhaps that combo might help somewhat. If not, there's also the API route which might at least help to automate the folder structure creation.
Server version: Zephyr Scale Server API (v1)
Cloud version: Zephyr Scale for Jira Cloud API (smartbear.com)
