As she will go into a STEM field, maybe engineering, she will likely need a Pro computer that will last all her college years and beyond and is able to run resource-intensive software.
Let me stop you right there. Without knowing what software and what data, it's impossible to say which model is enough. It could be a MBA with M1 or maybe a MBP in the best configuration isn't going to cut it. Universities usually supply labs or clusters to run that software, so in theory she could use an iPad.
There's also the issue of macOS and now ARM based systems. She might have to use software she won't be able to run with a Mac at all. This depends entirely on who's teaching. I teach in the STEM field (computer science and math) at a university and I usually pick software that can be run on any platform and when that's not possible give students access to labs or cluster/cloud solutions. Some of my colleagues are all in on Windows or Linux. Those who teach mechanical engineering and design sometimes use SolidWorks, which is Windows only.
That being said, display size aside, she'll probably be fine with any Mac currently available for the majority of work she's doing. And in the specialized cases, the university should supply the required software/systems. However, if she really goes into 3D CAD work and that's what she's doing all day long, I wouldn't buy a Mac in the first place and look at a Windows laptop. It's much more convenient being able to work anytime, anywhere on a Laptop and the 3D CAD world is pretty much Windows only, at least for the professional industry tools.
Wondering if we should wait until next year for the M2 pro, or if we should get her a new MacBook Pro M1 right now, to avoid the expected price hike for the new models.
I assume you mean M2 Pro vs M1 Pro (in the 14") or normal M2 vs normal M1. It won't make much of a difference in performance. The regular M2 supports 24GB vs 16GB in the M1. That is the biggest difference and why I'd personally go for a M2 (but that's just me). If you're looking at the Pro or Max versions, that isn't an issue anyway.