Yep. In some ways, France’s government is like ours or the UK, with a parliament and a Prime Minister who’s appointed by the head-of-state and serves as long as they have the confidence of the house.
But in France, instead of a Governor-General or monarch, the head-of-state is the President, who is elected to five-year terms. That President is Macron and his current term runs to 2027.
And what just happened specifically is that the PM that Macron appointed (who wasn’t really a reflection of the election results) has lost a no-confidence vote in parliament and his government has been dissolved as a result. And it’s up to Macron to find a new person to appoint as PM, who can secure the confidence of parliament.