It has been proven that reading to young children helps to improve cognitive skills and help along cognitive development. It also helps to provide them information and background knowledge on subjects which in turn helps them make sense of what they experience, see, hear, and read.
Good literature stimulates young children's sensory awareness. It allows children to see, hear, taste, feel, and smell on and imaginative level. Reading good literature for young children helps to encourage imaginations and helps to motivate creativity.
https://fordhaminstitute.org/national/commentary/kindergarten-canon-100-best-childrens-books