If the shackles are short like on a trailer hitch lock so that a hardshell case like a Pelican fully covers them, then they will have to cut through the body of the lock itself or destroy the luggage.
I have never once had a lock cut. Only one flight ever did they call me for access but normally they don't bother.
YMMV.
Does the TSA no longer open those locks with a grinder/bolt cutter?