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The functional requirements are like given a URL, the shorter version of this to be returned back. Also, if the shorter version of the URL is given the original longer version should be returned back. As an optional choice, allow users to create custom short URL's.
Take care of all non-functional aspects like security, scalability, response time and availability.
Define what APIs are expected from the system...
You should identify enough components that are needed to solve the actual problem from end to end. Also remember to draw a block diagram using the diagramming tool to augment your design. If you are unfamiliar with the tool, you can simply describe your design to the chat bot and ask it to generate a starter diagram for you to modify...
Dig deeper into 2-3 components and explain in detail how they work. For example, how well does each component scale? Any relevant algorithm or data structure you like to use for a component? Also you could draw a diagram using the diagramming tool to enhance your design...
Defining the system data model early on will clarify how data will flow among different components of the system. Also you could draw an ER diagram using the diagramming tool to enhance your design...