This topic goes back ages, but for some reason John Mueller from Google said again in a Google Webmaster Help thread that it is perfectly fine and doesn’t hurt you in Google search to share an IP address on the same server with other web sites. John Mueller said:
Many hosters use shared IP addresses for a variety of websites, many companies use the same set of IP addresses for a variety of products & brands, that’s all perfectly fine for Google’s web-search.
Google confirmed this in 2016 but as we said then, in the rare case Google may ban a whole free host or co.cc path but it is incredibly rare.
Forum discussion at Google Webmaster Help.