Heatshrink is great if you're making cables but you would need a really high shrinkage ratio to fit over the connector and then shrink enough, the common cheap stuff is usually 2:1, maybe 3:1.
You could cut the heatshrink tube, wrap it around the cable and then secure it with transparent tape. It would slide around but at least it wouldn't leave residue on the cable.
Maybe clip-on cable markers like this? [1] Easy to 3D print if you're so inclined.
Brother label printers (and I assume others) can print text small enough and sharp enough to fit onto USB connectors. (You'll need to manually trim the label with scissors to fit of course)
Visually, if it's something I'm going to be staring at on a daily basis, I like this much better than having tags hanging off of the cable. Tip: consider white-on-black labels.
The labels have been plenty durable in my experience, but if you need extra durability, you could probably just brush some lacquer over it with a Q-tip.
You could cut the heatshrink tube, wrap it around the cable and then secure it with transparent tape. It would slide around but at least it wouldn't leave residue on the cable.
Maybe clip-on cable markers like this? [1] Easy to 3D print if you're so inclined.
[1] https://uk.farnell.com/multicomp-pro/pb-250-sm0c/cable-marke...