Yes, you are correct. I have a new M2 Mini. Having used iMacs since 2006, being faced with a monitor decision was daunting. After the 27" 5K iMac, but not wanting to pay $2000 for Apple's 5k Studio Display, I had to decide whether I could live with a 4K display but wanted no smaller than 27". That ruled out the M1 24" iMac. I finally decided to go with a 27" Asus ProArt display. It has a built in hub with 4 USB ports. But for inputs has a USB-C port, 2 HDMI ports and a DisplayPort. I have the Mini connecting to the monitor via the USB port, and I have my Telus Optik set top box hooked to the monitor via one of the HDMI ports. So I can have the computer using the screen, have the TV show using the screen, have picture in picture with either the computer output or the TV occupying the small inset window, or finally, have picture beside picture where each output shares half the screen. So I can still keep a good solitaire game going while watching my Formula 1 races. Not quite as nice a sharing setup as my old Elgato EyeTV 200 provided but better than nothing. This setup is far more computer than I will ever need but I wanted to sell my 2017 while it still had value on the used market or before the aging Fusion drive decided to give up.
Dave