Yes, it’s as simple as that with one extra step (assuming you are moving your configs too). You’ll have to edit the Zwave Controller Thing to point to the right location for the Zwave controller.
Note, if you are moving your configs, you should move them over to the same version (since you are on snapshots pick the closes 3.2 milestone after when the SNAPSHOT was installed) and only after the configs are copied over and working upgrade.
There is no guarantee that configs from two versions back will work with the current SNAPSHOTS and the upgrade scripts don’t run when you restore a backup.
I would suggest to move the XML files from the userdata\zwave folder. This isn’t “required”, but will speed up discovery - otherwise all devices will need to be rediscovered which may take some time - especially with battery devices.