GoDaddy Dedicated Hosting includes one free dedicated IP address to use for custom applications, staging sites, email and other administration tasks.
Custom software and applications: If you’re running any custom software on your server then you might require a dedicated IP address. Some types of server software will require a dedicated IP in order to function properly.
Control Panel Management: Separate your sites and your control panel onto 2 different IP addresses for security and to isolate services.
Email deliverability: A dedicated IP protects your reputation and ensures your emails get delivered to their intended recipients. If you’re using domain-based email (i.e., myemail@mydomain.com) you may potentially run into email delivery issues.
(Please note: If you use a shared IP address with your email — with other users on the same shared IP address — you run a greater risk of your IP getting blocklisted or blocked.)