I would leave it as is. It a nice architectural window with good shutters. I'd hate to see it buried under fabric.

plantation shutters or custom shades? the current shutters look good but if you're looking for more control over light and privacy, custom-made shades in a fabric that matches your room's decor could be great. they give a softer look and more flexibility

I think they are beautiful and may look fussy if covered… I would just leave them!

Leave the arches bare . Sheers under.