I found this bundle to be trivial. However I am having trouble to persuade one of my fellow graduate students that this is true. He reasoned as follows:
1) The inclusion map $i: \mathbb{CP}^{n}\rightarrow \mathbb{CP}^{n+1}$ give us a canonical splitting $$i^{*}(\mathbb{TCP}^{n+1})=\mathbb{TCP}^{n}\oplus N\mathbb{CP}^{n}$$
2) Calculating the Chern class using Whitney sum formula give us $$c_{1}i^{*}(\mathbb{TCP}^{n+1})=c_{1}(\mathbb{TCP}^{n})+c_{1}(N\mathbb{CP}^{n})$$
3) We know $c_{1}(\mathbb{TCP}^{n})=(n+1)a$ by Milnor-Stasheff. On the other hand by naturality we have $i^{*}[(n+2)a]=(n+2)a$. So the normal bundle is not trivial as it has class $a=(n+2)a-(n+1)a$.
We agree that $i^{*}(\mathbb{TCP}^{n+1})=\mathbb{TCP}^{n+1}|\mathbb{CP}^{n}$ by the nature of the pull back bundle. However I disagree that the normal bundle of $\mathbb{CP}^{n}$ is included in $\mathbb{TCP}^{n+1}|\mathbb{CP}^{n}$. He suggested the following exact sequence:
$$0\rightarrow \mathbb{TCP}^{n}\rightarrow \mathbb{TCP}^{n+1}|\mathbb{CP}^{n}\rightarrow N\mathbb{CP}^{n}\rightarrow 0$$which I think should not hold thinking about the situation of the sphere because there is no reason the normal vectors should be included in the tangent vectors in a higher dimension.
I also could not understand why $i^{*}$ is injective given its nature is a restriction map. He told me this is a "general phenomenon of $CW$-complexes that the $n$-th cohomology is determined by the $n$-th skeleton". I do not think this is entirely self-evident in this case, for there may be $H^{2}$ classes that is $0$ in $\mathbb{TCP}^{n+1}$ but not in its restriction to $\mathbb{TCP}^{n+1}|\mathbb{CP}^{n}$. Here we are working with $\mathbb{CP}^{2}$ and $\mathbb{CP}^{1}$. I suspect I might be wrong and map is injective. But I am not sure. So I decided to ask.