Yeap, it is correct. You can't install PowerPoint locally on its own, you need to install Office, hence the reason in your last screen you see the bottom part saying Included in and then the 3 MS Office packages that are listed as free.
If you click on the any of them you should get the option to download locally. When installing Office you can customize the process and select to install only PowerPoint, to prevent using space for Word, Excel and all other apps included in the package.
Then it would work.
For your reference this is what I have on the Microsoft Store (and it lists the currently installed version on my Windows 10 machine):

Hope this helps.
Cheers