Yes, that is what it means.
If an athlete meets the “A” standard, they are automatically entered into the meet. If an athlete meets the “B” standard, they are provisionally entered into the meet which means if not enough athletes attain the automatic qualifier, a certain amount of provisionally qualified athletes will be allowed in to fill out the field. The meet organizers determine what that time is. I had an athlete run 20.55 one year which entered him provisionally. I can’t remember what the automatic qualifier was for those Olympics but the cutoff ended up being 20.54 so he didn’t go to the Trials.