Updating Context from a Nested Component - Optimization

Question

I was looking at the answers of this post concerning the way to Update Context from a Nested Component and I was wondering...

Given this React context:

const LanguageContext = React.createContext({
  language: "en",
  setLanguage: () => {}
});

Aren't they missing an optimization when doing:

const App = () => {
  const [language, setLanguage] = useState("en");
  const value = { language, setLanguage }; // new object on every render

  return (
    <LanguageContext.Provider value={value}>
    ...
  );
};

As the Context documentation states, there are some caveats.

You should lift the context object {value, setter}. It would avoid unwanted rerendering, even if this is quite unlikely to happen since the providers are at the top of the application.

Shouldn't it be:

const App = () => {
  const [language, setLanguage] = useState("en");
  const value = useMemo(() => ({ language, setLanguage }), [language, setLanguage])

  return (
    <LanguageContext.Provider value={value}>
    ...
  );
};

This way the context value is updated only when its value change, and not when the component rerender.

Is this correct?