Add attunement and class restriction to balance that...
... but I'd bump the rarity if it were in my game.
Here's why I suggest that you modify it, based on a DMG item that is similar, but more powerful: the Robe of Archmagi. It is Legendary, requires attunement, and is only for Walrocks, Sorcerers, and Wizards. It increases Spell Save DC by 2. (Ref, DMG)
Unless you go "legendary" in rarity, I suggest that you drop the spell save DC to +1. (FWIW, the ring of invisibility is rated as Legendary).
If 'core' is your campaign's general power level
If you require attunement, restrict the class(es) for the ring, and drop the spell save DC to +1, a decent argument can be made for the rarity to be between rare and very rare. (Since the Robe has other features as well). Your PC being in the level range where very rare items occur (15) fits this item, so a conservative approach would be to make it very rare, gate it to sorcerer, and require attunement. Your PC will be happy and you'll be close to the core balance, if not in the sweet spot.
A word on Power Creep
There has been power creep, and it's well represented in Tasha's Cauldron of Everything as @BillyMailman points out.
Rod of the Pact Keeper, which you use for comparison, requires attunement and is gated by class. (While I have a suspicion that the Rod was a specific 'boon' for the Warlock class as a magic item since they have so few spell slots usable per rest, I can't prove it).
The Power Creep in Tasha's includes uncommon items that boost the spell save DC by one and that are gated by a single class and require attunement. I have awarded one to the Druid in my Saltmarsh campaign: Moon Sickle (even though I prefer not quite as much 'power' in my games). We'll see where this goes, they are at level 6 close to 7.
Since your question was "pre Tasha's" I'd suggest very rare + attunement to balance it at a +1 spell save DC boost. (But rare would also work, given the PC's level).
If the Power Creep in Tasha's is considered the norm for your table, all that your item needs is attunement and the class restriction to fit right in.
It is thus up to your 'feel' for power that will govern your final DM decision.
Your new item would look like this:
Ring of Channeling (very rare{or rare}, requires attunement by a sorcerer)
While you wear this ring, the spell save DC of your spells is modified by +1
If you want to modify the spells to +2, I will still suggest that you make it Legendary, like the Robe of the Arch Magi, and likewise require attunement gated behind a class, or classes. In that case, it becomes a reskinning of the Robe.
Again, while I suggest the 'less power creep' approach, based on when your question was asked, you can embrace the Tasha's Cauldron of Everything approach and make it a +2 and either rare or very rare, but I'd still suggest that you require attunement.