As others have said, this really depends upon what universities you are applying to. Whether you actually end up needing or using the ability to speak Spanish is likely to depend upon what major and what career you end up with.
You can get into good universities with just three years of Spanish. For highly competitive schools you might be better off with four years, and this will vary from school to school.
Someone I know very well who works in health care has said that the ability to speak Spanish reasonably well (not fluently) has helped her in every job that she has had. This is probably true for nearly anyone who works in health care in the USA with direct patient contact. One daughter had only three years of Spanish in high school, did quite well applying to universities, but eventually ended up with a career where the ability to speak Spanish is useful and ended up taking additional Spanish classes while in graduate school.
Our other daughter was pretty close to fluent in Spanish, and is now in a graduate program where it is really not useful at all. Similarly I do not think that the ability to speak Spanish would have helped me at all in my career (and the ability to speak French only helped once or twice, and it was not important).
It all depends what you want to do. However, you most likely can make it work either way.
This is very likely to depend upon where you apply, and may also depend upon what other class you are thinking of taking instead.