I do that very thing with mine, and I decided to do it with the absolute smallest filter I could find - since all it is doing is stopping the small amount of lube that gets through, I don't need anything bigger.
I bought it probably about 9 years ago, and while I don't see the exact unit anywhere anymore (all seem to have gotten bigger), this one is close - the filter housing is the same, but it comes with a hose attached. If I did not have mine, this is what I would buy, and if the hose is not microbore I'd simply swap it for a foster fitting. It won't waste much air with its very small size.
If you are drying air on the input to the Shoebox, this is all you need size-wise . . . .
Edit: Adding that I just noticed that you will also need to add a male foster fitting to this unit (M10x1), and I took this post as a reminder to check the filter in mine as I only do that rarely anymore now that the Shoebox has the auto oiler - the silicone oil is less of an issue in terms of the amount of bypass than the old white lithium grease was (plus I lube with Krytox instead of plain silicone oil). There was a light amount of lube in the filter after maybe up to 100 hours of use - I did not note when I last changed it - with no discoloration from any wear of the o-rings (most likely showing the great benefit of the Krytox lube - expensive, but awesome stuff in the right application). The filter was not blocked and would still have been good, but taking it out damaged it so it was replaced - for only the third or fourth time in the many years I have used it.