We all know that After Effects will let you key the positions for anchor points, making animation of a path or vector shape pretty simple. One of the things that gets overlooked in Ae, is the fact that you can copy and paste keyframes from a path, but also between different paths. This will allow you to create a morphing paths animation really quickly.
a very simple way to morph shapes by copying and pasting the keyframe data of several mask paths.
Here, Animator Lee Daniels shows how you can copy and paste keyframes between different shapes, paths or masks in After Effects, on to one, to create a morphing paths animation that will transition from one shape to the other. Doing so, doesn’t offer a whole lot of control over how the multiple shapes will morph together. I could see adding some “intermediate” shapes could help more complex paths morph together better.