It's correct yes, except that modern Windows OS may refuse writing rights in the program folder. Am no expert (still old computer), but think you can change it by right-clicking on the profiles folder and changing the security permissions manually. Others can tell better, or perhaps you know it yourself already.
While at it, give also permission to the skins folder.
Some of us just place the whole KM folder outside of the default program folder, but that means the whole folder and browser is not write-protected anymore.
(sig)
New unofficial K-Meleon 76.4 (KMG76.4) available, in own subforum.
Based on Goanna engine, called 'test' builds forever but more stable as 75.1 acc. forum members. It's 1-2 generations ahead of predecessor KM76RC-2016
K-Meleon FAQ (link missing in forum sidebar)
Tips&Tricks -
Learning new stuff every day
New to K-Meleon?
What do you like? What not?