Yes, You are right. Including the note "It is different running an engine in a test cell than it is on an airplane"/It is different running an engine in a test cell than it is on an airplane, but doing these tests establishes reliability numbers for the engine and accessories as well as allowing the manufacturer to establish overhaul criteria.
From Pratt and Whitney R-2800 Double Wasp - USA :
" Perhaps the most outstanding example was the great R-2800 Double Wasp, which went into production in 1940 for the B-26 Marauder at 1,850 hp and by 1944 was in service in late model P-47 Thunderbolts (and other aircraft) at a rating of 2,800 (experimental) hp on 115-grade fuel with water injection. Of course, all engines naturally grow in power with development, but a major war demands the utmost performance from engines fitted to aircraft, whose life in front-line service was unlikely to exceed 50 hours' flying time over a period of only a month or two.
In peace time, the call was for reliability over a period of perhaps a dozen years. "