No - you are not understanding correctly.https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/foreign-workers/exemption-codes.html#r207
What about the option of R208 - PR with short expiry date can get job offer without LIMO if I understand correctly?
This has nothing to do with PR. This relates to TRP holders (temporary resident permit). A TRP is a special type of visa used by those who are otherwise inadmissible to Canada (typically due to a crime). Doesn't apply to you in any way. Doesn't have anything to do with PR holders.