Your assumption is correct.
However, you should never run two Krita installations in the same user account, precisely because it can (will) lead to problems. In the worst case, it can lead to the loss of self-created resources, such as your presets (KPP files).
If you want to use different versions at the same time, the safest way to separate this is to use different user accounts, a good usable (convenient) solution how to set this up I described here before. The only thing that doesn’t work when running different Krita versions at the same time is drag and drop for the installations in the foreign user context, that only works with the installation in the logged in account (or with an extremely risky hack that I won’t publish).
Michelist