According to the feature description Shader Pre-Caching allows Steam to download pre-compiled GPU shaders matching your system configuration.

This allows Vulkan and OpenGL games to load faster and improve framerate stability during gameplay.

If enabled, Steam will collect shaders from your system when needed.

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Enabling this feature may slightly increase disk and bandwidth usage.

Shaders are functions that are used to calculate the colours of pixels in graphics software such as video games.

This feature comes at the cost of a small amount of bandwidth and hard drive usage.

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In terms of hard drive usage, most users only see a few megabytes being used by the feature.

A small number of users have reported multiple gigabytes being used to shaders.

initiate the configs by clicking Steam in the top-left corner of the main Steam window, then clicking configs.

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Once in Steams parameters, switch to the Shader Pre-Caching tab at the bottom of the tab list.

There are two options Enable Shader Pre-Caching and Allow background processing of Vulkan shaders.

If you want to disable Shader Pre-Caching though, simply untick the Enable Shader Pre-Caching checkbox.

Click OK in the bottom-right corner to save the changes.

In the Shader Pre-Caching tab of the Steam tweaks, untick Enable Shader Pre-Caching.