Yes, you've checked the correct checkbox.
At this point "Hibernate" (in your native language, of course) should be showing up on the "Power" menu as an option.
I see you've turned off Fast Startup, which I also recommend doing, because if the partial hibernation file that gets used to implement this feature gets corrupted, and it often does over time, some very "interesting" results can occur. I'll take the little bit of additional boot time because when I shut down my machine I want Windows to be loaded from scratch from the disc when I power it up again.
Sleep mode can be handy to have show up on the Power Menu as well if you know that you will only be sleeping the machine for a relatively short period of time and you want it to fire up again as rapidly as possible when you want it back.
Brian AKA Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1803, Build 17134
. . . the presumption of innocence, while essential in the legal realm, does not mean the elimination of common sense outside it. The willing suspension of disbelief has its limits, or should.
~ Ruth Marcus, November 10, 2017, in Washington Post article, Bannon is right: It’s no coincidence The Post broke the Moore story