For spd shoes, gorilla tape or silicone can seal the bottom of the shoe while a felt insole adds R value but then you have to deal with spd shoes being designed for warm weather riding and then covers and a wool sock is needed.
My solution for temps down to -18 / 0F looks like this... winter footwear should always be sized to handle thicker socks and allow for unrestricted wiggling of dem toes.
I have some Merrell Polartec snow mocs which are also pretty decent with a wool sock... it is currently below freezing here and these are fine for that although they are not good for deep snow.