It's correct. A product with various options will have each combination of options under a different SKU. It's a singular number that identifies an exact version of a product.

In this context, SKU refers to a variant of this product. That is the correct acronym as I understand

its used to mean a new product that you specifically have to keep track of. e. g if you found framework desktops in a store, it wouldnt all be sold under 1 sku. all 3 ram capacities would be 3 different bar codes

As others said.

In this context it would be one of the CPU/Memory combinations framework offers: https://en.wikipedia.org/wiki/List_of_AMD_Ryzen_processors#Strix_Halo_(Zen_5/RDNA3.5/XDNA2_based)

Basically another word for 'Product Number' or 'P/N' for short.