I think it honestly all depends on how it presents itself i.e how severe it is. The positive is they have caught it early and can monitor the situation and recommended the right treatment plan for your baby.
I am an adult with hydrocephalus and have managed to live a relatively normal life. When I was about 2, my parents were advised around shunts but decided against it as it was a risky procedure for me. I was monitored on an annual basis until I was about 8 years old and then I was discharged. I both learnt to walk and talk a lot later than others (around 2 years old)
As an adult, my balance is shockingly bad so I can't handle things like Go Ape or Rollercoasters for example, and my hand eye coordination is rubbish for catching stuff when people throw things. But other than that, I would say I lead a pretty normal life.
I'm also currently pregnant and other than not being able to have any form of spinal/epidural procedure, I have had a pretty normal pregnancy so far thankfully.
I will say not to give you false hope but the consultant who saw me said I was a rare case in my presentation of hydrocephalus. But I'm sure it's not all doom and gloom like Google suggests either!
Another thing and I will then stop waffling...a lot of GPs, doctors etc. I have come across have heard of the condition which I can say is a good thing for future treatment. I have another rare condition which no one has ever heard of and I constantly have to explain what it is and never know whether I'm getting the right treatment
Thoughts are with you. Stay positive. They've caught it early and there are lots of things they can do nowadays treatment wise that they never had 30 years ago when I was a baby. Best of luck to you and your family :)