You are NOT right. An aircraft in flight has six degrees of freedom. You must analyze them all to understand the motion.
The aicraft is in motion in three dimensions. It can move, in each of these three directions, and it can also rotate in each of those three directions.
To understand the motion, you need to analyze the total forces acting on the aircraft, and resolve them ( add them up vectorially), into a single force representing the sum of all of them. That vector sum of all forces then determines the direction and magnitude of the acceleration the aircraft will experience. if the orientation or direction of that total force is to one side, the aircraft will turn. I don`t mean it will rotate, we'll get to that later. I mean it will turn. It's velocity vector will change direction.
The other three degrees of freedom control what the aircraft attitude is, i.e., how it rotates or what direction it is pointed in. This is controlled by the torques or moments created by the distribution of the forces on the airframe relative to the center of mass (often called center of gravity or CG) - this is called a torque, or moment. (Sit on one end of a seesaw with your 50 lb granddaughter on the other end)
In the scenario you describe, the horizontal component of the lift vector creates a horizontal component of acceleration, and that causes the velocity vector to change direction. If there was no rudder, the aircraft would still change direction of motion, but it's orientation (the direction the nose is pointed in), might not change. That is controlled by the distribution of the forces on the airframe relative to the CG. If more force is pushing to the right 5 feet ahead of the CG than is pushing right 5 feet behind the CG, then the aircraft will Yaw to the right.
Basically, the moment is the product of the force vector times the distance between the CG and where the force is pushing on the airframe. You add up all the moments and determine the total moment to see what the impact of all of them on the aircrafts tendency to rotate, (pitch, yaw or roll).
Because stability about the vertical axis (directional stability) is so important, almost all aircraft are designed with aerodynamic surfaces that provide this. We call them vertical stabilizers. And most of them have adjustable sections (rudders) to allow the pilot to control them. This is what affects and controls sideslip, not the horizontal component of lift.