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Efficient linear IC regulator for diodes?

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So I was thinking that it would be nice to have a regulator like the LM317 and AMS1117 that are simple to use but that has a lower reference voltage and an equal or better voltage dropout.

After looking around the closest regulator I could find was the MCP1826T-ADJ.

It does come in a SOT-223 package that I use a lot for my builds.
However, it has one main differences. It has two more pins than the LM317, one is the shutdown pin and the other is a ground pin. The shutdown pin just needs to be connected to the input, but I'm not sure what needs to be done with the ground pin for it to work for a CC driver? If it even can work as a CC laser driver.

So my question for you electronics experts is, can this regulator be used as a laser driver and if so what needs to be done with the ground pin?

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