At late game, Poppy can lock onto a squishy target and destroy them. It's quite difficult to deal with her at that point, but there are a few things you can do:
If you're a tank, she's not going to target you, unless she's using you for invulnerability. If so, you have CC that you can put on her to keep her from doing so.
If you're a ranged dps, try getting Frozen Mallet. It'll make her devastating blow do more damage, but it'll also let you slow her so you can run away.
If you're a melee dps, you're going to have some issues. All her damage is melee, and it'll hurt you alot. You're going to have to build resistances.
If you're a support, you have to heal anyone whos targeted. If YOU'RE targeted, you're limited by your items. It's best to get a Shurelya's or Hourglass to try to keep away.
If you're a mage, you should have some form of CC. Use it on her, and consider an Hourglass.
She's a ***** to deal with. Try not to let any one person be the squishiest or let one person do zero damage whatsoever.