The length is fine. Might need to go up a diameter at this point though, possibly fill the hole with a little epoxy.
The backer for the awning is 1/8" or 1/4" aluminum plate. While we sometimes back that with plywood (to keep the screw from vibrating), that is not the primary material. Threads any longer would not really make any difference as they threads only bite into the 1/4" material.
Please see the Latitude awning installation instructins.
https://www.carefreeofcolorado.com/d...stallation.pdf
Notes about screws:
For installations using metal backing plates: Attach using 1/4 x 1" self-drilling screws. The screws must be long enough for the threads to reach through the backing plate
There is zero reason to go longer. It will serve no purpose unless you want to go through the wall and bolt it.