The idea is that shield should not conduct any system ground current, or at least, any AC system ground current.
The connection you show is kind of the opposite of what you want. With the caps as they are, system ground noise is able to make its way onto the shield wire, which will be in common-mode with system ground. This will actually increase EMI. Meanwhile, an ESD upset has a nice AC path to system ground which you helpfully provided with C7 and C8. Neither outcome is very good.
What I've typically done is to connect shield to logic ground via a ferrite bead, then connect shield ground to chassis, or at least, to a chassis plate for a plastic box. This suppresses the system ground AC noise path for EMI, and also blocks an ESD hit to the shield getting to system ground.
Another option is to use a resistor to tie shield to ground. I've seen this done on some USB hubs. This provides some IR drop to outgoing EMI and incoming ESD.
This Intel (via TI) appnote goes into more detail.: https://www.ti.com/sc/docs/apps/msp/intrface/usb/emitest.pdfEMI Design Guidelines for USB Components