In Cursed Child, after saving Cedric, Scorpius ends up in an alternate reality where Diggory became a Death Eater and Voldemort won.
Now Dolores Umbridge was reinstated as Head of Hogwarts in that timeline, so WAS her Squad reinstated?
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In the alternate reality, Scorpius is the "Scorpion King" - a hotshot among the supporters of Voldemort and Umbridge herself. When he gets out of the lake, he doesn't know any of this, but Umbridge says to him:
DOLORES UMBRIDGE: No need to be modest, Scorpius. [...] You are a highly valued student. Valued by the faculty. Valued especially by me. I’ve positively glowed about you in dispatches to the Augurey. Our work together flushing out the more dilettante students has made this school a safer, purer place —
SCORPIUS: Has it?
The work she refers to in the last sentence sounds similar to what the Inquisitorial Squad was doing, or evolving to do, when she was headmistress the first time round. Umbridge is clearly getting together the Squad - or at least, a squad - to support her values and patrol the student population.
Also, for what it's worth, the Wikipedia article on the Cursed Child explicitly refers to it as:
a revived Inquisitorial Squad led by Scorpius
I haven't found official confirmation that it is that, but if it walks like a duck and talks like a duck...