In some cases, it can certainly help. However, it isn't helpful for deep thoughts or when innovative, creative ideas are needed.

I have found that speaking the steps out loud helps, especially with new, confusing working steps. For example, it helps when tying a complex knot or following the steps/work of others without explicit instructions. In such situations, speaking out loud helps me to remember the steps much faster (simple repetition through multiple pathways) and also helps me to detect and correct spatial and sequential mistakes. It also helps enormously when working with or teaching someone else.

I have a funny memory from my youth: one time, I had to solve a particularly difficult maths problem on the blackboard. I don't remember exactly why, but while I talked out loud about solution A, I wrote a slightly different step (B) on the board. Looking back, I realised I had made mechanical mistakes, so I had to correct them to get the final valid solution. My teacher laughed and joked, 'A sign of genius is to write A, say B, but only C is the true solution.' :) (no, he was just too kind).

I have often experienced my handwriting being much slower than my speaking, so sometimes they don't sync and funny mistakes are made (one line contains the words of the next line). But I fondly remember that particular moment.