The drop chance will still be the same, but that drop chance is divided up among all the living people. Meaning the chances that you would be the one getting the drop would decrease, but the chance of whether the weapon drops or not isn't affected.
#20108 SK_Iron_Marauder ; Previously SK_Iron, SK_Ironhill, SB_Ironhill, Swadius_of_Ironhills
#2462148 SK_Mica ; Previously Fat_and_Ugly
#2441007 SK_Royal_Guard_Gneiss ; Previously SK_Herr_Gneiss_Preasts
#2451456 SK_Hardy_Meat_Piston
#2432942 Raicho
#2514714 Ric_Flair
#2462148 SK_Mica ; Previously Fat_and_Ugly
#2441007 SK_Royal_Guard_Gneiss ; Previously SK_Herr_Gneiss_Preasts
#2451456 SK_Hardy_Meat_Piston
#2432942 Raicho
#2514714 Ric_Flair