That's correct. Nothing is going to start unless you complete the build with a CPU, use special test equipment that can run the individual parts, or you know how to hot wire it, which I don't recommend due to your inexperience. Just don't wait so long to complete the build that you fall outside of any warranty periods, unless you have no choice, in case a component does need warranty service.
You haven't mentioned RAM, but that is also a necessary component for the system to function. While the system will power up with a CPU and no RAM, you will not get video output or be able to operate any of the components. The computer will fail to complete the basic POST test and will halt any further boot progress.