@Czarto unless I am wrong, stripping out all the parameters would actually prevent Google from seeing them, no? I tested the changes on Merchant Center and nothing would be seen aside from the remaining parameters (including currency). I have tested @Endlesslearning solution and it seems to work for what I need to do. (Mostly see which ad is generating a sale via Shopify + Google Analytics) I am personally using "Content API.title"
@Puda Google Analytics can usually properly categorize stuff without the need of explicit UTM tags, in particular for "search" traffic. Any Shopping traffic coming from Google Ads (paid) will be properly categorized due to GCID being passed (UNLESS your GA account is set to allow UTM tags to override GCID parameters). Any untagged organic Shopping traffic will be categorized in whatever way GA decides (I **assume** as organic search, but I'm not sure).
I don't think there's a single "right" way to do this, so if you're implementation works for you, then that's probably good enough!