Best Practices for Tracking User Behavior in Event Flows

Tracking behavior clarification: In our current setup, the team sometimes tracks a single event only after the user finishes a flow (e.g., Deposit Completed), and they use event properties to indicate what happened during the steps (like which method was clicked, etc.). Is this a recommended approach? Or would you advise breaking it into multiple step-by-step events (like Deposit Button Click, Deposit View, Payment Method Selected)? note that the argument is that increasing the events will add complexity and increase cost