I just watched this on Sunday. I haven't seen ET in years. What about them is similar other than they are chase scenes with bicycles?

Steven Spielberg was the executive producer for this movie. That explains why the other films he was involved with have similar sequences.

On the flip side, Speilberg stole a scene from this movie. When we first see Martin Short's doctor's office, its a closeup of some palm trees. But then the camera zooms out to reveal its simply a poster.
Speilberg borrowed this same technique in The Lost World, when we first see Malcolm in the subway. He's in front of a poster with palm trees.

There was a particular shot that reminded me of ET, when he's pedaling down the road with the camera facing him, and Igoe's car bursts out from a side road and begins chasing him. It's similar to the part in the ET chase when the FBI agents suddenly burst into frame behind the kids and give chase on foot.