Hi

Yes Engineering Physics is worth it if you do from IIT.  Engineering physics is a unique branch of engineering disciple with a combination of physics,  mathematics,  electrical engineering and other advanced technology subject

Graduate in Engineering physics are provided with a strong base in the science and physics with engineering.  Graduate in Engineering physics are involved in solving complex problems from nuclear,  aerospace,  computing etc.  The Syallbus covers

1. Advanced mathematics

2. Material science

3. Chemistry

5. Electronic

5. Computer system

6. Optics

7. Thermodynamics

8. Heat transfer

The program offered by IIT Varanasi has physics,  mathematics,  electronic,  electrical, material science,  programming,  CAD,  electrical machine. 

Aerospace engineering is altogether different branch it uses principal of physics and Applies to form higher order subject like Gas turbine,  fluid mechanics,  design of Aircraft,  propulsion,  IC engine,  rocket engineering,  structure of aircraft