ChatGPT has tokenized versions of knitting patterns scraped from the internet that it can attempt to reconfigure into something resembling a knitting pattern. I don’t think it has the ability to keep track of the number of stitches you have open or the knowledge of how different stitches will interact and build on each other. You will likely have to make corrections or modifications.
I saw someone generate a crochet pattern that they were able to actually create, and it was just a little sphere with nubs coming off of it. I think this it might be a fun experiment, but I would not expect anything impressive.