Not quite. If you have an SSD or Fusion drive, Catalina likely split your drive into two volumes. When you boot from the backup, you're going to want to erase the drive completely (from the top) in order to put things back into one volume, then restore. So:
- Open Disk Utility
- Choose "Show All Devices" from the View menu
- Select the destination drive hardware (above the container and volume)
- Click Erase
- Choose "GUID" partitioning, "APFS" formatting and name appropriately
- Click Erase
Then restore (with Smart Update or Erase) and you should be all set.