Having a blast playing this game from back in the day, its a shame its not as beloved by modern day R* who would rather wipe this game from their history due to the themes depicted in the game.
Make no mistake this is a modern classic and I only recommend purchasing the game if you're willing to put in the time to install patches to at the very least stabilise the crashes which without the modders would render this game completely unplayable. If modding isn't for you then I strongly suggest you leave this game alone as without essential mods its completely broken and unplayable.
There are guides in the community section to install the essential mods silent patch and widescreen fix which will at least get you a stable 60fps with mostly no crashes although I would still recommend saving frequently as this is a pretty poor port.
If you want to take it further there are mods both at Nexus Mods and Mod DB that will vastly improve the visuals of the game without impacting stability. It takes some time and effort but its worth doing in the long run. I've successfully combined several mod packs to produce my own personal definitive edition.
The mods I used are as follows:
Silent Patch (a must): https://cookieplmonster.github.io/mods/bully/
Widescreen Fix (a must): https://thirteenag.github.io/wfp#bully/
Derpy's Script Loader: https://www.nexusmods.com/bullyscholarshipedition/mods/43
Slower Clock: https://www.nexusmods.com/bullyscholarshipedition/mods/42
Unofficial Enhancements (massive visual overhaul and some nice gameplay tweaks): https://www.moddb.com/games/bully-scholarship-edition/downloads/bully-scholarship-edition-unofficial-enhancements
Anniversary Edition HUD (massively improves the visuals of the hud including adding XBOX/PS hud eliments): https://www.moddb.com/games/bully-scholarship-edition/downloads/bully-scholarship-edition-anniversary-edition-hud
Anniversary Edition Timecycle (Better timecycle than vanilla) https://www.moddb.com/mods/bully-se-mobile-timecycle/downloads/mobiletimeycle
A minor reshade (went for a subtle one after testing a few which all appeared too saturated but this is a personal choice and the beauty of modding): https://www.nexusmods.com/bullyscholarshipedition/mods/32
We'll never see an official definitive edition of this game so this is where the modders come to the rescue showing love this this game for us to enjoy.