How exactly is this going to work? As others have suggested, is it literally going to be driving by to say "Hello, here's your gift, goodbye" with no refreshments or interaction with the other guests? If so, that does seem a bit rude, and I'd just be dropping off a gift at my own convenience.
On the other hand, if the host(s) are going to be serving some refreshments, and conversing with each guest, and maybe even thinking of some creative social-distancing games to play, I'd make the effort to attend.
(PS - I know some might think serving refreshments could be a COVID risk, but there ways to get around it - for example, having sparkling wine or grape juice in disposable plastic glasses that the guests get to keep, etc. Or only serving store-bought goods, rather than home-baked goods, etc).