Yes, that is a good route, and the one I took when I drove from to Thirsk from the Helmsley area. I think 2 hours is very generous. It was only about a 30-40 minute drive between York and Thirsk, and then maybe another 20+ minutes to the Helmsley area. The roads around there are very good. And yes, definitely make the stop at the Sutton Bank National Park Centre; the view is just gorgeous and there's some nice walking around there.
Helmsley is well worth a visit, and in fact, I would consider it for a good base in the Yorkshire area. It's a lovely and very walkable town, and has some fun shops, very nice cafes and restaurants, and the ruins of Helmsley Castle. Plus there are the walled gardens, which are really beautiful. There are lots of hikes available as well, including one to Rievaulx Abbey, if you choose to take a long hike. The Abbey is very close to Helmsley (closer by car, of course). :-)
Personally, I didn't find too much appealing in Thirsk (outside of the Herriot museum), and I found it a bit difficult to drive in, especially around the museum area.
In terms of other places, I would highly recommend visiting Hutton-le-Hole, which is a very quaint little village a little ways past Helmsley. The town is charming and has been around for a very long time. In fact, it was listed in the Domesday book of 1086 (under Hoton). The name Hutton-le-Hole means “place of the burial ground near the hollow.“ It's really a lovely village and worth a trip in itself, but it also houses the Ryedale Folk Museum, which is an open-air museum that offers visitors a glimpse of rural life over the past few centuries. I really enjoyed my visit here and highly recommend it!