Freezing shredded cheese is totally fine, though your future self might occasionally stare at a slightly clumpy block wondering why you didn't portion it out first. The taste isn't going to vanish into thin air, but the texture can get a bit crumbly because of the freezing process. Luckily, since you are throwing it straight into an air fryer where things are meant to get melted and crispy anyway, you won't even notice the difference. Just squeeze out all the extra air from the bag before tossing it into the freezer, and you are good to go. It is a great way to save food from going bad.