The real problem is when engineers abhor duplication, and in order to reuse existing code, they simply call the same code from multiple places without thinking through the basis for this reuse.
Mindless deduplication is not an act of abstraction at all! This is a very important point, because a "wrong" abstraction that is conceptually sound is not that hard to evolve, and if the code is called from N places then you get to look at those places to understand how to evolve the abstraction. Improvements to one part of the code benefit N parts, and you save work.
The only other factor to keep in mind is the dependency graph and coupling, as my parent mentions.
Mindless deduplication is more common than you'd think, especially with bits of code like utility functions and React components. For example, you end up with a component called Button that has no defined scope of responsibility; it's just used in one way or another in 17 different places that render something that looks or acts sort of like a button. This is not the "wrong abstraction," it is code reuse without abstraction.