mount -t nfs4 server:/home/share /sharefolder looks like a correct command client-side, and your set-up works for me as I just tested it.
Of course, you must enter the command as root, or use sudo with it. The "Operation not permitted" error message suggests perhaps you accidentally ran the command as a non-root user, or mistyped the share name.
Note that even if you export and mount just server:/home/share, the NFSv4 server will need to auto-generate virtual exports for / and /home. However, these will not be the NFS server's real / nor /home, but virtual read-only directories that only contain the minimum necessary sub-directories to reach the actually-exported directories. Once the share has been mounted, you can see this at /proc/fs/nfsd/exports on the NFS server:
cat /proc/fs/nfsd/exports # Version 1.1 # Path Client(Flags) # IPs /home *(ro,insecure,no_root_squash,sync,no_wdelay,no_subtree_check,v4root,uuid=e4c0fcd4:00b94db3:b63bd9a8:0e705e29,sec=390003:390004:390005:1) /home/share *(ro,root_squash,sync,wdelay,no_subtree_check,uuid=e4c0fcd4:00b94db3:b63bd9a8:0e705e29,sec=1) / *(ro,insecure,no_root_squash,sync,no_wdelay,no_subtree_check,v4root,fsid=0,uuid=e4c0fcd4:00b94db3:b63bd9a8:0e705e29,sec=390003:390004:390005:1)