Chop the cabbage, dice the onion, slice the bell peppers, and mince the garlic. Pat the shrimp dry and season with salt, pepper, and ½ tablespoon of the Cajun seasoning.
Heat a large skillet over medium heat. Add chopped bacon and cook until crispy, about 5–7 minutes. Remove with a slotted spoon and set aside, leaving the bacon fat in the pan.
In the same skillet, cook the shrimp in a single layer for about 2 minutes per side, until pink and opaque. Remove and set aside to prevent overcooking.
Add olive oil or butter to the skillet with the bacon fat. Sauté the onions for 3–4 minutes until translucent. Add bell peppers and garlic, cooking another 2–3 minutes until softened and fragrant.
Stir in the shredded cabbage. Season with remaining Cajun seasoning, smoked paprika, salt, black pepper, and red pepper flakes (if using). Cook for 10–12 minutes, stirring occasionally, until tender but not mushy.
Return the shrimp and bacon to the skillet. Drizzle with apple cider vinegar and toss well. Cook for 2 more minutes over low heat to allow flavors to blend. Adjust seasoning to taste.
Remove from heat, sprinkle with fresh parsley, and serve with lemon wedges for squeezing over the top.