Speed won't be an issue for it. The issues will be 1) It only plays CDs (no DVD or Blu-Ray) 2) A device like that is probably older and probably uses IDE interface, which isn't in use anymore. New DVD-RW drives use SATA connectors. 3) It's probably used, so there's no telling what condition it's in and how much life it has left.
If it's still good it can be made to work, though a basic DVD-RW drive costs no more than $20 today, and will do more than that drive (burn and read DVD and CD)