Yes, that’s correct. All you are doing is sending a constant hot and neutral to the fan box to power the Inovelli canopy module full time.
A couple suggestions . . .
What’s with that loose white? It’s tough to see in your pictures, but it looks like you have 3 (maybe 4?) 2-wire in the box which would be in, out and to the fan. That has to belong to a 4th Romex? It probably belongs on the neutral bundle or at a minimum, capped off.
Also, on the two blacks attached to the switch, trim the copper very slightly so that the conductor sits flush to the switch. As is, you could cause a short if that unterminated white conductor would come into contact with the bare black when you shove everything back into the box.