Recovering of Encrypted back up?

If you open iTunes and the backup is in the correct place iTunes should find it. To check to go iTunes Preferences, devices page, and the backup should be listed.

Here’s the location information—>Locate backups of your iPhone, iPad, and iPod touch - Apple Support

Just to answer the last part of your post; "I do know the encrypted backup password"

You do not remember your encrypted backup password, I can understand.

You do not remember having created an encrypted backup, I can understand this also.

This means iCloud Key chain was checked while creating the encrypted backup, because by default it is checked.

Look for it in iCloud Keychain.

Did you un-check keychain while creating the encrypted password (By default it is checked) See the pic below.

If you had un-checked then the only option that you have is, keep trying various passwords as there is no limit on number of attempts.

You may have forgotten that you had entered a password. --> About encrypted backups on your iPhone, iPad, or iPod touch ...

Start here, reading ALL the instructions:--> Locate backups of your iPhone, iPad, and iPod touch - Apple Support

If you moved the entire folder from your computer to a different position / folder / disk, you need to put it back in the original position.

Regards

Giulio

I suggest looking here: https://support.apple.com/en-us/HT204215

You mean you want to keep a copy of that backup on your phone? Or you want to restore that backup but you can't? Sorry, but the post is not absolutely clear.