Hi Piotr,
yes. That´s it.
In case of moving the configuration the settings above (stored in /config/BigDB.dat) will be transferred as well.
They can be reset to default as follows, ie.:
tmsh modify sys db liveinstall.moveconfig reset-to-default
As Brad already wrote, it´s best practice to delete the target volume and to recreate for installation.
This avoids uncertainty about conflicting settings and preferences.
Btw, hotfix installation will always involve installing the base image first (of course it has to be available in /shared/images/).
You can save one step, i.e. for installing v11.5.1 HF7 to HD1.3:
tmsh delete sys software volume HD1.3
cd /shared/images/
ls -lat
tmsh install sys software hotfix Hotfix-BIGIP-11.5.1.7.0.167-HF7.iso volume HD1.3 create-volume reboot
watch -d 'tmsh show sys software'
Thanks, Stephan