I'm going to answer based on the location in your profile (UK) because, as pointed out, standards and legality for this vary across the world.
I guess the biggest question you need to answer is, is your manager out-of-step with company culture? Or is she just enforcing what is a widely held belief?
In the UK, an employer is free to decide upon a dress code, but they have to be seen to applying it equally across men and women. This can be tricky given cultural "norms" of dress vary hugely.
To quote the UK Government guidance above any
"requirement to wear make-up, skirts, have manicured nails, certain hairstyles or specific types of hosiery is likely to be unlawful"
so it sounds like what your new manager is proposing regarding lipgloss is illegal (as usual, I-am-not-a-lawyer)
How you deal with that though is obviously tricky and depends on what outcome you want?
You could raise it with your HR, in the hope they can have a discrete word with your manager without identifying you. They might be great or they might agree with her and know how to make any legal response you have not worth your while.
You could mention it in passing to her yourself, if you think that would work.
Or you could try to find the bare minimum level of "zhuzh" that keeps her happy and gradually try to reduce it as time wears on.
All of these carry different risks and benefits and without us knowing your workplace, it's hard to say what is the best for you.