A Strathmore bypass would be simple and pretty cost effective. The province id exactly the same thing on Hwy 16 at Vegreville. You only need one simple interchange at each end of town and those do not have to involve movements in all four directions, they are almost uni-directional in nature.
Medicine Hat would be much more complex and expensive. But needed equally as much if you have ever driven through there on the TCH. The economic payback in increased productivity could be surprisingly quick.
Google maps link to the Yellowhead at Vegreville:
https://www.google.ca/maps/@53.50211.../data=!3m1!1e3