Query:
SQLFIDDLEExample
declare @code varchar(10) = 'pc-shr,pqr,qzcx,rtde,rz-fg,kj-hl,jk_lm'
select @code
--pc-shr,pqr
SELECT SUBSTRING(@code, 1, LEN(@code)-CHARINDEX (',' ,REVERSE(@code))) + '..etc'
--pc-shr..etc
Replacing right part of string where is last comma, if you want results like in your example increase size - varchar(11)
EDIT: you want this?
SELECT SUBSTRING(@code, 1, LEN(@code)-CHARINDEX (',' ,REVERSE(@code))+1) + '..etc'
--pc-shr,..etc
Last comma in a string @code varchar(10) is this pc-shr*,*pqr so I add ..etc to it
SELECT SUBSTRING(@code, 1, LEN(@code)-CHARINDEX (',' ,REVERSE(@code))+1) + '..etc '
+ SUBSTRING(@code, LEN(@code)-CHARINDEX (',' ,REVERSE(@code))+2,LEN(@code))
--pc-shr,..etc pqr