If you add GPS after the file is imported into LR, then you do need to use that Read Metadata command. Unlike a browser such as Bridge, LR doesn't re-read the metadata each time you go to a file.
However also understand that Read Metadata reads all metadata including any adjustments that may be in the XMP sidecars or embedded in a file. So it can overwrite any adjustments that are currently in Lightroom, because that's what Read Metadata told it to do. To deal with this, it's important to get the sequence right - first use Save Metadata, so your current Lightroom adjustments etc are sent back to the file, then Read Metadata to bring in your GPS.
John