How to manage PIP threats

Hello Everyone, I have got a Very Low Band in previous cycle. All though I have rejected the Band and Challenged that but still the result was Same reason they are saying low attendence. Any Way that moment I have accepted that. But now suddenly my manager telling me that he has got my name in a mail from Higher authority for PIP recommendation. And he said, they are saying he will monitor me for next 3 months and will decide whether should I go to PIP or not. Please suggest me what should I do at this moment? Apply for release or looking for another job. Please suggest something I am very confused