Yes, that's right! You can connect 2 PCs at the same time, so you can switch with the power/multifunction button on Monitor (that's an easy way)
With the monitor you can use 1 USB-C cable and 1 USB-A cable to combine with HDMI/DisplayPort.
In your case I would connect the MacBook Pro with the USB-C and the Windows laptop with the USB-A and HDMI.
Mouse/keyboard can be connected to the monitor and will be shared with the active PC.
I'm happy with this product!!!
Davide