That "new" view shown in your screenshot does not seem to have an obvious preview pane below it, or to its right. It is not at all obvious how to get it back from there. BUT:
"Classic" view has a much more obvious preview pane, but it sometimes gets squashed at the bottom of the viewer pane, with only a dot along the bottom edge indicating it could be hidden. It sometimes resists casual attempts to "pull it up" despite the appropriate upward-pointing arrow appearing.
>> The solution is, in Classic view, to grab the upward-pointing arrow, and pull it almost all the way to the top of the pane above. Nothing less will do.
I just wiped out my preview pane trying to set up a screenshot, then spent an hour trying to get it back. I found the above solution here:
El Capitan Mail Preview Pane issue
It turns out this fix also fixes the preview pane in the "new" view, adding a non-zero-sized preview pane to the right of the email-list-pane, which can then be RE-sized to your liking.