Depends on the uni, the course, and whatever specific circumstances surrounding the situation.
No matter what, it is a time for both you and the uni to look at the situation and objectively consider if this course is right for you at this time. It may well be that the course is exactly what you want to study, but for whatever reason you aren't able to cope with it right now. It's perfectly reasonable to also consider the possibility of taking a few years out then returning to study - even for that same course.
This also means that even if you are offered the opportunity to resit the modules or the year, it's well worth taking some time to first thing about whether doing so will yield a different outcome at present or not. As there wouldn't be much gained by just rushing headfirst into a resit year, for example, and potentially having the same end result (which would actually present more problems later if you wanted to take a few years out then return to study, due to affect your student finance entitlement).
It is a turning point regardless, whether that is to stay the course but have this as a wake up call to significantly change your approach, or if it's a sign to look at other things to pursue for the time being (bearing in mind, of course, that doing so does not rule out returning to uni at a later date).