As of 1124 SH are headed for Elbaf. Last time we saw RHP (chapter 1079 and chapter 1082) they were at Elbaf, though talking about leaving. At 1121 they were seen sailing on their ship. Will Luffy and Shanks meet during the arc of Elbaf.

I consider the arc to be from the time SH spots the island of Elbaf to after the SH have left the island and spots the next island or similar that will indicate the start of the next arc. In case things are ambigous I will use the following site to decide https://onepiece.fandom.com/wiki/Story_Arcs.

For Luffy and Shanks to have meet they need to be in the same physical location and either talk or interact in some other way, like fighting. A call with a den den mushi would not count.

Them meeting earlier does not resolve this bet in either direction.