I believe the bullet drop is the same as before. What changed is the muzzle velocity of the sniper rifles. The highest velocity sniper in BF4 was 650 m/s. In Battlefield 1, the highest muzzle velocity sniper is at 880 m/s. So bullets likely still drop at the same rate, but since they travel much faster it’s not noticeable until longer ranges.
This is because they were trying to be more realistic with sniper rifles. The Gewehr 98 in real life has a muzzle velocity of about 878 m/s. In the game it has a bullet velocity of 880 m/s. Whereas in BF4 the M98B had a 650 m/s muzzle velocity despite it having a 900 m/s muzzle velocity in real life.