Good deduction, Arjun! Looks right to me based on the empirical data in the live scoreboard at the official site.
The reason for top 2 in women and top 3 in men could be because there are some countries that are fielding only 2 women, whereas on the men's side, I see that each country has at least 3 golfers competing. But I'm not sure though (just conjecturing).
I tried to search for the official cut rules, but haven't found them yet, but based on Sin Hombre's observation, it does look like it will be top-20 and ties for women. For men, they are currently showing 46 golfers expected to make the cut at -1 and there are 37 players at even par, so the cut line would probable be between 38 and 46 ((and ties). Perhaps prajgolf has some insights here that he can share?