Thanks to Millie, CBSViewer, and Jovan for the heads up.
According to series creator, Gina PrinceBythewood the series finale of Shots Fired is approaching, meaning it's not been renewed. However when the show was first ordered it was billed as an "event series" so perhaps that is why. Nevertheless, the series finale is scheduled to air on the 24th May. I will update when the cancellation is officially confirmed by FOX.
Catch up or come join the conversation. #shotsfired on Hulu, On Demand or https://t.co/GrnhSgECS8. Only 2 hours left til the series finale. https://t.co/yn9BJ9dyQG
— Gina PrinceBythewood (@GPBmadeit) May 12, 2017