In one situation, there was a personality issue, and half the team left within three months. Personality issues are hard to correct, I knew the writing was on the wall and should have been more aggressive in switching out.
With the benefit of hindsight in similar situations, I would suggest trying not to jump in too heavily on things (like taking sides in a technical debate, volunteering for specific projects, etc) until you understand your new manager's objectives and how they evaluate performance.
The corporate culture, and the reason why the new manager was brought in, both matter. If it's just because the old one moved on and a new one was hired, and there's a strong corporate culture, things will likely continue on pretty normally for you as a junior report. If they were brought on for another reason or it's a smaller company, you could be in for some dramatic changes.
In any case, read up on how to "manage up". Here's a few Harvard Business Review articles that should help, and then you can go from there:
https://hbr.org/2015/01/what-everyone-should-know-about-mana...
https://hbr.org/2014/12/how-to-handle-your-first-meeting-wit...
You should be able to tell within a few months how things are going - if you aren't happy or aren't getting positive feedback from the new manager, start job hunting. At 1-2 years into your first job you are likely at a good point to start looking for a new position with a nice bump in salary anyway.
Another point is to rely on your department head. Usually they hire people similar to themselves or to the people they have previously hired. So the incoming manager should be somewhat similar to the outgoing one unless the department head is looking to make a big change. If you like your department head and old manager then the new one shouldn't be terrible.
Your progression will probably slower if there are a lot of manager transitions in your career. The manager doesn't get to mold you to their image of what defines the talent level for the next role. If they don't have a big hand in your professional development they might be less inclined to feel like you deserve the promotion. (After 8 years I'm only a midlevel dev. Maybe I just suck though)
All that said, my experience has been that changes are usually negative. There are a lot of managers out there and very few of them truly have your best interest in mind and have the pull to influence the situation for your benefit. The chances of you getting one of these good ones might be 1 in 5.
Hope you have better luck than me.
Be aware of most of the hard work you did in the past is going to be worth almost nothing in terms of getting a promotion, unless you have other employees telling tales of how you saved the day. It's almost like moving to a new team: a fresh start. If you were having performance issues, now is the time to start producing and showing how awesome you are. If you worked hard, now is the time to keep doing it because what you did may not count since it was not seen by manager.
Imagine you are big name act like Taylor Swift. You would not let some outside rando choose a manager for you, would you? When a manager chooses a manager for you they don't do it for your benefit.
My advice - help the manager as much as possible while you evaluate them. It'll probably be fine, and you'll learn to work with them -- they may even make the team better. If not, start looking.