This is almost exactly how I do my 1/1s with my team members. Except the frequency for folks who have been in the team for more than 6 months is 3 weeks and for newer members its 2 weeks. Also, I make it a point to ask them to provide feedback for their peers - positive and constructive. I make notes and I use the 1/1s to also give regular, informal peer feedback to the team members. I ask them what's going well for the team and how we can improve the processes, the productivity etc