I'd suggest time-in-the-saddle is important if your goal is to lose weight and get fitter (along with healthy diet changes - don't forget those - a bike won't fix a [censored] diet!). It takes your body around 20 mins to warm-up, to get into 'sports' cardio mode, so don't go out for 10-15 minute blasts that leave you breathless and imagine you'll lose a ton of weight from it - it's not going to happen and you'll end up disappointed and soon lose interest.
Instead put 45-60 minutes aside three or four times a week and go out and ride. Start off slowly and after 10-20 mins you'll find you warm-up and will naturally find a pace that you are comfortable with (note: you may feel uncomfortable or cold or tired or a bit of nausea for the first 20 mins or so as your body adjusts to the continued requirement to keep everything moving - just ride through it and it should ease off - but if it doesn't ease off, stop, get your breath back, and try again - or quit and try again another day - there's no glory in giving yourself a heart attack over a bike ride! 🙂).
Keep your pace steady and make sure your route is circular so you'll end up back near home at around the end of your ride time. Do make a note of the time and mileage, but don't be ruled by them - just keep them for comparison with what you'll be doing in a few months time (I'm saying don't be ruled by them because they differ from day to day and as you get fitter and lighter they'll plateau naturally anyway; this way you won't end up exhausting yourself "chasing" your previous results).
Once you've got a few weeks under your belt and you're getting used to time in the saddle, think about extending the rides by an extra mile or two, and see how much further you can comfortably ride. It might surprise you how quickly you get used to it and how much farther you can go or how much more time you can spend in the saddle compared to your start-up first few weeks. Alternatively, if you're not in a position to spend more time on the rides, increase the pace a little and see if you can get some extra miles in that way.
The key is to enjoy it. If you focus too much on stats or weight (which fluctuate anyway) it'll take the fun out of it. So long as you enjoy it, you'll benefit from it. 😉