What kind of truck? do you know the actual tongue weight of the new trailer (not spec TW... actual)? Does the truck have built in trailer sway control? Do you know how much the rear will squat under expected tongue weight?
That close, you may be able to adjust the head angle to allow the hitch to sit a bit lower and still be safe. However if you're towing near the limits of your truck maybe not. Might be fine as is, really hard to say without know all of the details.
I think there are too many factors involved to say for sure. If you want a no-hassle pickup I'd suggest buying or borrowing another shank that will allow you to go lower if you need to.
