It completely depends on how you plan to use the copy.
If you make a shallow copy, for example
List<int> x = new List<int>() { 1, 2, 3, 4, 5 };
List<int> y = x;
y[2] = 4;
Then x will contain {1, 2, 4, 4, 5}
If you are making a deep copy of the list:
List<int> x = new List<int> { 1, 2, 3, 4, 5 };
List<int> y = new List<int>(x);
y[2] = 4;
Then x will contain {1, 2, 3, 4, 5}, and y will contain {1, 2, 4, 4, 5}
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