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SN74LVC1G34: VCC with 1.8V and 5V Input

Part Number: SN74LVC1G34
We are planning to use SN74LVC1G34 (Single 1.65-V to 5.5-V buffer) in our design.
We are using the IC in such a place where it will be working in down voltage translation.
Please find the working condition mentioned below,
  1. Input Voltage - 5.5V (Maximum)
  2. Output Voltage Level required - 1.8V
  3. VCC -1.8V
  4. Signal Used - 1PPS
It will be helpful if you can review share your thoughts on this.
Please find the screenshot of schematics below,