Yes, it is correct that if you file an extension for your individual income tax return you are automatically granted an extension of time to file Form 3520.
If your Form 3520 is ready to go, there is no reason to delay it until you're also ready to file your income tax return.
@TAD-SAT
And RobSl is correct, too, that FBAR/FinCEN114 has an ongoing requirement if you leave the assets in foreign bank accounts. You file this form every year that you have a balance in foreign bank accounts that exceeds $10,000 USD on any day of the year.
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