React – useState not setting initial value

As it is alluded to in the comments, useState(initialState) (or whatever you call it) will only use initialState on the first render.

During the initial render, the returned state (state) is the same as the value passed as the first argument (initialState).

_{(React Docs, emphasis mine)}

After this, on re-renders the useState function does not change the state based on new changes to the props passed in.

To make changes reflected everytime value changes, register an effect on the input prop like so

export const MakeComponent = props => {
  const { path, value, info, update } = props;

  const [val, setVal] = useState(value);
  useEffect(() => { setVal(value)}, [value] )

 return (...)
}

Note that just setting state based on the props changing is a bit of an anti-pattern, as MonsterBucket notices you could just rely directly on the props changing to trigger a re-render:

export const MakeComponent = props => {
  const { path, value, info, update } = props;

  const [val, setVal] = useState(value);
  if (val !== value) { // don't update unnecessarily
    setVal(value);
  }

 return (...)
}

And instead reserve useEffect for side effects, mostly those outside of the React render cycle.

To see examples of these, have a look as these ReactJs docs – You might not need an effect, which covers lots of other examples.