I'd simply go with "détérioration (progressive)", which seems to me closer than 'dégradation' for some reason.
Or, maybe slightly more casually: "empirement" (worsening) from "empirer" (to worsen).
I'd also suggest "détérioration systémique" if the point of the sentence is to highlight the systemic aspects of enshitiffication as opposed to specific events, depending on the text I might even go for the full "détérioration progressive et systémiques (des plateformes digitales)" to convey the full picture.
I do believe most translations with a change of register would tend towards being more convoluted to get more specific so as to satisfy the need of capturing the narrow semantic support of the term stemming from its relatively recent inception (2022-2023) and cultural lack of a generalizable conceptual understanding of the process. That is to say, similarly specific and concise formal words have yet to have taken hold, and may come from an interaction with the socio-political causes of enshittification, as others have proposed.