Yes, the idea is to get Orion into the path of the Moon at a slow enough speed and at the right time so that the Moon's gravity captures it into an orbit around the Moon. If it is moving too fast, it just would swing by the Moon and end up in an altered orbit around Earth. (Or, if going fast enough, it would get away from Earth, too, and end up in orbit around the sun.)
Three-body gravitational analyses are complicated. It still amazes me that we can do them so precisely to get things like the DART vehicle to hit something as small as Dimorphos dead center at exactly the right point in its orbit around Didymos.