it will affect ur GPA and CGPA. im in business so i dunt quite know the requirement of ur faculty. but i think there should be some requirement dat if ur CGPA is lower than a certain level, u will be put into probation in which u have to raise ur grade to dat level in 2 semesters.
anyway, if u r sure u will fail, drop it so dat it wont drag down ur grade. otherwise, finish it.