Pretty much. This is my music server build from 4 years ago:
These days I wouldn’t bother with the ITX form factor, just use a normal case. I run Ubuntu Desktop with HQP Desktop and Roon Server. Since that build I added a 5GB HDD for more music storage. These days I’d make that an SSD.
There is no monitor or keyboard on this machine. After installing the OS I communicate with it via terminal and Jump Desktop from my desktop PC and iPad.