I will show you how to create "Morph Shape" with After Effects. It's quite simple, and I will guide you through it for versions 2019 and above.
Firstly, open our composition. From the panels above, select "Circle Shape."
After adding the circle shape, select "Star Tool" from the same section. When adding it, make sure not to press the "shift" key so that it transitions to the other layer.
Afterward, with both layers selected, align them in the "Align" tab. It doesn't matter if you choose "Composition" or "Selection" for the Align Layers To option.
Then, with both layers open, click on "Polystar Path 1" and choose "Convert To Bezier Path." Repeat the same process for the circle.
Afterwards, activate the "Time" option under "Path 1." This way, we can adjust the settings second by second as we like.
Select the first frame of the Circle layer and perform a copy-paste on the top layer, the star.
We will get a result like the one below:
Afterward, we hide the Circle layer at the bottom.
We copy the frame at the beginning of the star and append it to the end. This way, it will return to its initial appearance.
Our output will be as follows:
