Playing in a band , does require committment tho'. You already have a teacher which is a bit of a head start. I say this, but what always seems to happens in bands I've been in, is that it takes a bit of work to have the agreed songs ready at the same time . You may well be prepared,( slightly apprehensive) , but other band members may not. ( it's notmy turn to look after the kids, but I've been lumbered/Mr. Guitar sprains arm etc). Then some songs are practiced at home by you, but Mr. Vocals never had time etc.
Other than that, carry on and heed the wisdom of the other basschatters above