To me the problem was related with the project that I was working on. It took me a while to figure it out, so I hope this helps:

Original folder structure:

    root/
    __init__.py  # Empty

        folder/
            __init__.py # Empty

            sub_folder_b/
                my_code.py
            sub_folder_c/
                another_code.py

In another_code.py:

from folder.sub_folder_b import my_code.py

This didn’t trigger the intellisense in Visual Studio Code, but it did execute OK.

On the other hand, adding “root” on the import path, did make the intellisense work, but raised ModuleNotFoundError when executing:

from root.folder.sub_folder_b import my_code.py

The solution was to remove the _init_.py file inside the “folder” directory, leaving only the _init_.py located at /root.