Yes thanks, that is how a sketch should be ‘manually’ uploaded to the ESP32.
(The same sequence is used for the ESP8266.)
Almost any (breadboard-friendly) ESP32 board already has a USB to Serial adapter integrated on the board so most users never have to press the program and reset buttons sequence (not know about it).
(The integrated onboard USB to Serial adapter uses two transistors in combination with DTR and RTS signals to make uploading go automatically without having to press any buttons.)
Be aware of the 3.3V: When using the separate USB to Serial adapter with your ESP32 board never connect two power sources to the board at the same time. If the board is already powered by a different power source (e.g. a battery or power supply connected to a breadboard) then you should NOT connect the 3.3V power line from the USB to Serial adapter to the board at the same time.
(When normally using the USB connector to both power and program the board this is less/not an issue because power from the USB is normally protected with a diode that prevents reverse currents to the USB port if you have also powered it on the 3.3V pin. But when you power it via the USB to Serial adapter that security measure is not present.)
(Also note that certain CP2102 based boards have a bug where they can output near 5V instead of 3.3V (on the 3.3V line). There also exist CH340 based USB to Serial adapters that you can switch between 5V and 3.3V output but (totally unexpected!) the Rx and Tx signals levels always stay at 5V.
To prevent possibly damage, it is best to measure the output supply voltage(s) and signal level voltages of your (Chinese) USB to Serial adapter before blindly trusting it’s advertised specifications.)