From Bangkorai Garrison Wayshrine there is a passagaway that takes you to the southern part of the map. This takes you through the Fallen Grotto POI. There is a lake in Fallen Grotto that flows south and falls over a cliff as a waterfall. You will notice the Nilata Falls group enemy POI icon close. You can see the skyshard from the top of the waterfall out of Fallen Grotto. You can jump from there or go through Sunken road to the south part of the map and climb up to shard’s location.
View of the skyshard from Fallen Grotto waterfall. You can carefully jump down from here.
You can also approach the shard from the south avoiding the Nilata Falls group boss.