Check out this Adobe Campaign blog post by our Campaign Community Advisor @Marcel_Szimonisz about tracking dynamic links in Adobe Campaign, a possible workaround along with detailed instructions and the pros and cons of the discussed approach: ACC | Track dynamic links
Some email campaign send outs can have links dynamically rendered in the content. Such links are not visible by Adobe Campaign personalization engine and thus will not be tracked.
The good thing is that we can use a workaround to make dynamic links trackable and also on top of all workarounds Adobe itself has provided feature that solves this issue.
Please feel free to reach out in case you have any questions through the below comment section.