It is generally not considered a chatzitzah if:

she shaved on a one time basis or once in a while, but is not concerned with it being shaved on a regular basis.
she, personally, shaves on a regular basis but has decided not to so this month.

It might be considered a chatzitzah (and a more detailed question should be asked) if:

shaving is a normative custom in her community. (There is a custom in some Sephardi communities to shave pubic hair before mikveh.)
she plans to shave it later on mikveh night or the next day. (This is based on the principle that something that is about to be cut is regarded as if it has already been cut, and is therefore no longer considered part of her body.)
the hair is bothering her in its present condition (e.g., causing itching).