So remember Todd Howard said he wants the shooting mechanics in Fallout 4 to feel great and like a First Person Shooter (FPS) video game?
I don't think I saw bullet drop in the Bethesda E3 2015 conference videos, but Bethesda Game Studios did confirm in like one of the 70 articles somewhere on the internet that they hired a employee from Bungie to help them develop a shooting mechanics system.
This could mean there may be a chance that bullet drop is in, wind directions might affect bullets.