Tire deflectors need to be designed in consideration of the whole area around the tires—I'm sure that goes without saying. What's been said so far about angling the deflector shape to face the outward direction of the airflow as it approaches the tires is helpful, but we also need to consider how this airflow interacts with the wheel wells and the outer sides of the car body and wheel.
It's my opinion that without any aero modification the wheel wells, and the spinning inner surface area of the tires and wheels, contributes a significant amount of the drag attributed to the front wheels/tires. The wheel wells are a negative space with low pressure that will draw air coming under the body and disrupt the airflow behind it, so that even with a smooth underbody aft of the wells the airflow will be somewhat turbulent.
Also because the airflow underneath the front underbody is bowed outward, if the deflectors are designed with only the leading edge of the tires in mind there will be quite a lot of air directed toward the inner side of the tire and wheel, which will create a lot of drag since the area is recessed and the surfaces are spinning.
You could just create an airfoil deflector that would be wide enough to divert air around the tires
and the wheel well at the appropriate angle, but that would be so wide that it would greatly increase the frontal area, and it would be hard to make the deflector long enough to create an effective airfoil shape. I think a better solution would be to 1) create an undertray that will cover as much of the wheel well as possible, leaving room of course for the wheels to turn and the suspension arms to pivot through their full ranges, and 2) design airfoil deflectors angled to face the bow angle of the airflow, with a front area wide enough to mask the tires' profile at that angle. I would also curve the deflector so that the rear end is close to 0 degrees, as you don't want it to push air further out from the side of the car than it already is.
Here's a very rough 2D sketch: