Are your issues with all of the cadets or mostly the other MS1s. Non-contracted cadets are no required to attend PT or lab, although it is encouraged. Additionally, more than 50% of Freshman in Army ROTC do not progress onto Sophomore year. So if it is just the other Freshman who annoy you, it will get better as you progress.
However, if you do decide to drop, you will be disenrolled and receive an RE3 code. That prevents you from joining other officer producing programs or enlisting. It is possible to get a waiver, just that it can be difficult. If you are looking to join the AF, they are notorious for not giving waivers. I am not sure about the Navy.
If your end goal is to serve in the military, just know that dropping may prevent you from ever serving.