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Cheapest way would be to buy a used groupset I guess. Or buying parts over time.
I have some old R785 levers, for example. If you found all the parts you need over time at lowest prices, that's the cheapest. Most people don't have the patience for that though.
If you mean retail cheapest, well then that depends where you are, what stores have what you need in stock, etc.
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trp hylex brakes with shift buttons and a 1x11 di2 derailleur ? grx or xt.
That's my plan for my next 'gravel' upgrade -
Look around for the first generation di2 hydro shifters - rs785 - pair with a grx or long cage di2 mech. depending on frame you can probably get calipers for 120ish. as @hippy said, waiting for parts to show up over time is cheaper - otherwise things like junction boxes and batteries eat up a lot of the budget. also, some good deals to be had on etap axs - with just shifters and 1 rear mech it might be cheaper - i believe you can swap out the jockey wheels to run a non-flattop chain and cassette (and avoid the expense of a freehub).
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@swedeee
a genuine which groupset question;
what is the cheapest way to get an electronic hydro disc groupset at the moment? i am aiming to build up a winter bike but it must be electronic shifting + hydro disc. fine with mid-range calipers and crankset etc.. it would likely be for a kinesis 4S disc roadset. it could be 1x11/12 if that makes it cheaper/easier to get hold of. aware that everywhere seems out of stock of everything atm