It's hard on a shod horse if they hook the shoe and pull it off. Back before I realized it was cheaper to hire a cowboy than to try and be one, I had an old piece of carpet I would put over the panel if I was hauling a shod horse.
I am CHEAP. So what I use is just an old piece of carpet over the cattle panels when I haul a shod horse. Just take it out when your done. But I don't haul a horse very often.