Yeah i agree and think it can even be phrased as just not micromanaging. You understand which resources benefit the team and delegate a certain amount of trust to trustworthy individuals. Then hold them accountable to that trust. Dont dump stuff on them and dont jerk the wheel. Share your constraints; etc. Learn who is good at leading, communicating, etc. Do skip level 1:1s to validate your assessments and understand boots on the ground.

I use to also think being technical was a part of that but now i think being a good manager is worth much more on its own.