Great question! So you're not exactly wrong, on both timeline and fetal development. But the external genitalia (and internal reproductive system) of a fetus is neither male nor female before the sex hormones are triggered. They resemble something in between, and certain structures that we would call "homologous," or organs that are similar in structure but different in function, will typically become what we know as the male and female reproductive systems once those hormones 'kick in.' So for example, the labia of the vulva or the scrotum which holds the testicles start out as an in-between structure known as the labioscrotal swelling until about the 7-8th week mark.
Here are some links that will tell you more!Embryonic-fetal Differentiation of the External Reproductive Organs
(has audio)What happens in the second month of pregnancy?