As far as I know, yellow and red card will be cleared in new season. Suspension will likely also be cancelled.

Besides, for additional information, condition and skill progress of any unsigned players will be freezed until they will be signed (generally, within 7 days).

But I have a related question. Will injury recovery also be freezed in new season for unsigned players?

If yes, I try to sell my loved DL/DC who just suffered 8 day injury in a friendly match with full effort. I originally planned to sign him on Day 3 but am not sure if I will use him for whole next season. At 22, he is the 2nd oldest player in my team and is a relatively lower quality one. But his versatility and consistency is something very valuable.