Correct.
After the initial mask, paint and de-mask, wait for your paint to COMPLETELY dry (depending on what kind of paint you’re using, this can take up to a week), re-mask the entire piece, and carve. After that, you can paint your black lines with the remaining (“un-carved”) mask in place, then remove this mask when done painting. That first paint has really got to be down and done before the second mask application, or else it’ll pull up when you de-mask the final time.
Here’s a project I did that essentially follows this sequence: First "Finished" Project - Gir