If you sequence too early you might as well not sequence at all. You can’t not sequence at all, so don’t waste the pilot’s time and your time.
Say there’s three aircraft in the pattern, all sequenced, cleared. All good. Then incomes a pilot 22 nautical miles away. What do you do? Do you ‘A’, issue a pattern entry with no sequence, or ‘B’, issue a pattern entry with a sequence. To sequence or not to sequence, you should not sequence.
Waiting is never a bad thing, it allows for you to assess the situation and not confuse the pilot. If you sequence too early you will likely just need to resequence again later, which adds to your workload and the pilot’s workload, unnecessarily.
You need to find that happy medium when the aircraft is close enough for the sequence to matter and make sense.