Go to your doctor, get it treated, and let the medical people decide if it's serious enough to warrant considering on your application.
The alternative is to not tell them. At which point your shoulder could dislocate during PT, or a field leadership exercise on IOT. Or during flying training - or on ops - in control of an aircraft, when you could put yourself (or others) in danger.
It might be something that can be fixed, and if corrected might not even be an issue for a Medical board. But even if it is a problem after being fixed up, you should get it checked and be honest. The alternative isn't ideal, imo.