This pattern is one of the most basic practice exercises for the beginning guitarist. Developing equal use of all four fingers on the fretting hand and coordinating them precisely with a strict alternate picking motion in the other hand is essential to developing the kind of technique you’ll need to become a skilled player. Many players try to get away without using their pinkie, but working on exercises like this will ensure you have all four fingers available to you, which can only increase your abilities.
Use a metronome or drum machine loop while practicing all of these exercises and concentrate on making sure each finger comes down onto the fret at exactly the same moment the pick strikes the string. Practice this up and down the neck using all positions. For an extra challenge, try starting with an upstroke of the pick instead of a downstroke.