Horizon Forbidden West - Easy Infinite Shards (Ultra Hard)
Full "Easy Farming" Playlist for Ultra Hard here: https://youtube.com/playlist?list=PLX5QeKJZun4EgSdr43WmJsaVxg3bz2Qg5
Full spreadsheet for all upgrade resources (except for NG+ gear) provided here: https://docs.google.com/spreadsheets/d/1rzYdoni6RJXzn2Pw9Z7nnv0As2NLmB00RHgwcVgKFrA/edit?usp=sharing
I expect this to be patched. As of 1.18 it's still a viable strategy. The Whisper Hunter Bow in Barren Light sells for 100 shards more than the purchase price, so this technique is as simple as buying and reselling it as fast as possible. At a rate of 100 shards per cycle, this seems to be easily the fastest method to make shards on Ultra Hard. On Story Mode some of the Tremortusk one-shot-kill methods probably surpass it, but on Ultra Hard they just don't go down fast enough. This weapon is sold in Barren Light but it doesn't unlock until you pick it up as a chest reward during the quest Shadow's Reach.
Some people might consider this exploit cheap, and I wouldn't necessarily disagree with them. However if you're attempting to upgrade all of your gear on an Ultra Hard New Game it costs roughly 260,000 shards. So personally I find it hard to feel bad about cutting out what's potentially an extra 50 hours of farming Tremortusks.
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