Yes, that's correct! According to Einstein's theory of special relativity, time dilation occurs when objects move relative to each other at speeds close to the speed of light (299,792,458 meters per second in a vacuum). Time dilation means that the rate at which time passes for an object (such as a clock) depends on its relative motion to the observer.
If you are traveling near the speed of light relative to an observer, your clock will appear to be ticking slower from their perspective. Conversely, from your viewpoint, the observer's clock will appear to be ticking faster compared to your own.
This effect might seem counterintuitive, but it is a well-established phenomenon in the realm of special relativity. The faster an object moves relative to an observer, the more pronounced the time dilation effect becomes. However, at everyday speeds significantly lower than the speed of light, the time dilation effect is negligible and not noticeable in our daily lives. It only becomes significant at speeds approaching a substantial fraction of the speed of light.