The school being open with being put on probation shows they are open to discussing and acknowledging the issues. However, students may get caught in the middle with changing curriculums, etc. I would ask what exactly they have done or are doing differently. If they claim the pandemic was an issue for a significant drop, it does make me worry about their partnerships with clinical sites. Do they have technology to support online learning if needed? NCLEX is changing NOW, have they incorporated new teaching strategies to support the new clinical judgment model?
A new school does not necessarily mean it is bad. I work at a relatively new program which is now highly ranked nationally.
Avoid for profit schools.