For my personal statement, the school that I’m applying to requires 500-word minimum. Would 484 words be good enough?
No. If they require that 500 is the minimum acceptable, 484 does not meet that requirement. Add another sentence or two
I worry that if your essay has to be stretched to reach the minimum it’s probably not conveying enough, tbh. I always recommend that students draft long and then shorten to ensure their essays are dense and concise.