First, there is no reason to lift the first finger in this phrase even if you are alternate picking.
The key to speed is practicing perfect optimal movements at a very slow speed.
I have seen "shredder" videos (not from the masters but "amateur" shredders imo) that claim the key to speed is engaging the twitch muscle in the arm. This leads to an exaggerated sloppy movement. The issue you are describing is one of synchronization between your left and right hands.
You're description is very smart. You are placing the left hand finger before engaging the right hand. Many guitarists are not aware of this, especially self taught guitarists. The left hand needs to be set before the beat, it needs to be slightly ahead.
Based on your description you simply aren't there yet, but your practice technique is good.
I've been able to get clean alternate picking across all 6 strings at 16th notes at 220-240 bpm, and on one string or a pair of neighboring strings at over 300bpm, with melodic patterns (not just an Eddie VH tremolo).
For me, I start out practicing the pattern one note per beat at 60 bpm. The training is not "speed" training but getting the pattern in muscle memory so there is no confusion whatsoever. Only then do I start ramping up the metronome. If I get to a speed where I feel tension in the picking arm or get confusion in the left hand fingering I go back to a slower speed.
Over the long run your sense of touch will become enhanced and you will not have to go as far back with each new lick.
Some tips include (1) keep left hand fingers as close to the string as possible at all times, (2) keep the pick as close to the strings as possible at all times (without grazing the string, causes buzzing), (3) plant fingers where they need to be as soon as possible (not a moment before the note).
For example in the 1-2-3-4 chromatic exercise across all 6 strings as soon a finger 2 goes down I lift and plat finger 1 on the next string. Optimize movement to reduce confusion.
For many guitarists when they start to play faster the automatically start to exaggerate the body movements. This is natural but this is exactly the thing that we train NOT to do.
Time is the key. Take time to program your biological computer and you will see effects over time. It you rush it you'll just be sloppy and disappointed with the results.