Can you use this magnet to guide a metal plumbob inside a wall to a predrilled hole for fishing electrical wire from basement to attic?

If any metal in the wall it will stick to it. This is a very strong magnet and you may lose it in the wall if you use a cheap string...

Are you supposed to add thread locker?

If on fishing line you should not need to. I don't know why you would need to remove the ring from the magnet housing, but you could add some thread-lock.

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DIYMAG Super Strong Neodymium Fishing Magnet 500lb (227kg) Traction Rare Earth Magnet River Recovery Magnetic Fishing Diameter 60mm

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