Use the Shopify App Block feature to embed a tracking block on any page.
This feature is only available on Shopify Themes that are compatible with Online Store 2.0. See more details at official Shopify documentation
Pay attention to the URL of the page where the tracking block is inserted. For example, the links in your emails will need to be updated to match this location.
Add a new page in your Online Store > Pages The handle (or slug) of this page will need to be included in your transactional emails.
Go to Online Store > Themes
Create a new page template
Add the block to the page
Assign this template to the page you created in step 1