When you create a version of a folder referenced by shortcuts, all shortcuts continue to reference their original object in the original version. They do not automatically update to the current folder version.
For example, if you have a shortcut to a source definition in the Marketing folder, version 1.0.0, then you create a new folder version, 1.5.0, the shortcut continues to point to the source definition in version 1.0.0.
Maintaining versions of shared folders can result in shortcuts pointing to different versions of the folder. Though shortcuts to different versions do not affect the server, they might prove more difficult to maintain. To avoid this, you can recreate shortcuts pointing to earlier versions, but this solution is not practical for much-used objects. Therefore, when possible, do not version folders referenced by shortcuts.