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To be able to gift, you'd have to buy the whole thing as a gift, you can't cut it up into parts.
Steam sometimes does have "smart"/"dynamic" bundles (not sure of the official name) which will adjust their price based on the content you already own, but doing these is a choice of the publishers/developers, and Bungie didn't choose to do this for the Upgrade Edition, so you're out of luck.
If you buy Shadowkeep (or the "Upgrade Edition", which includes Shadowkeep), you'll get the Season of Dawn season pass (Season of Dawn started yesterday) and you'll have to buy the next season passes with silver (if you're interested in buying those).
Right now, the Upgrade Edition is a bit cheaper than just buying Shadowkeep, so that's the logical choice for you, I guess, if you absolutely want Shadowkeep -now-.
Another option would be to wait until the Steam winter sale starts and hope that Shadowkeep will be on sale. That starts next week, so you wouldn't have to wait too long/lose too much time in the new season, and it's almost certain Shadowkeep will be on sale then. It was 40% off recently, so it'll probably be that again.
You could also check it out on Humble[www.humblebundle.com]. It's not on sale right now, but if you have a Humble Choice subscription, you get 10% off, and depending on what the price is for you where you are, it might be cheaper than the Upgrade Edition here on Steam? I don't know.
TL;DR - The Upgrade Edition would give you the exact same thing as just buying Shadowkeep, and you're probably better off waiting until the winter sale starts next week.