Hi Satish,
Not sure if I fully understand your answer.
Google will consider a redirect as a soft 404 if you redirect pages to non-related pages. Example: if you redirect a page about "shirts" to a page about "pants" or if you redirect this page to your homepage. If the pages are similar (example "green shirts" to "shirts") it's not considered as a soft 404. I understand that you are redirecting to similar pages - so that should be ok.
If you have pages with low quality incoming links (or a mix of high/low quality links) you can still redirect them - but in case of low quality links it's probably a good idea to disavow them (using the search console) - check https://support.google.com/webmasters/answer/2648487?hl=en
Hope this helps,
Dirk