Importance of Author Bio on Website

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Content is the king for any website with respect to quality, SEO, traffic, engagement. Hence one of the most important aspects is that your content should always be "unique". And Author is the person who makes that content unique.
An author's bio is unlikely to be a part of an algorithmic ranking factor. There is no evidence to indicate that a site will lose rankings simply because articles are missing an author's bio. However, there may be indirect influences for helping a site rank better.

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The author blog with details/information/bio of an author definitely provides value to a website. An author name and/or an author bio has at some benefits:
•  The author creates a relationship with the reader. Readers form a bond with an author they enjoy reading and they seek out their articles to read more.
• The author’s name can serve as validation that something is worth reading, as a seal of quality. This is like a signal of trust for readers.
• The lack of an author makes an article somewhat impersonal and can make it seem less trustworthy.
The reason an article by a popular writer can rank well is because of the ideas within those articles as well as the writing style. People respond to those ideas with links.
Stimulating trust is a powerful signal for inspiring loyalty and sales. An author's bio can inspire feelings of trust, credibility and the understanding that there is value in the words being read. The author bio gains power through the talent and value they provide in their writing, particularly if it is done consistently.
Successful authors also write with a pen name.
So in certain situations, it doesn’t necessarily matter if one uses their actual name, as pen names are an accepted way of publishing articles.
What matters is the quality of the writing and how consistent the quality of the writing is, and hence the person who does this job is equally important!