Is this circuit and values of component correct?
Often modules like this are straightforward implementations of recommended circuits from the IC datasheets. And this one is pretty close to being exactly that. If you read the datasheet it will tell you everything you need to know to modify the circuit for a fixed output voltage.

R3 should be higher if you're really going to take the output voltage up to 35 V. 1 kohm is reasonable for fixed 5 V output.

R2 should probably be much lower. You can go work out what divider ratios you need between R1 and R2 to get the range of output voltages specified, based on the regulator's datasheet, and choose R2 to let you produce those ratios.

C1 and C2 are probably more like 10 uF than 100 uF.

L1 is more realistically 47 uH than 470. The LM2596 datasheet recommends values between 15 and 150 uH, depending on load current and input voltage.

The photo shows LM2596S-ADJ, but your schematic calls out LM2596S-5. If you want fixed 5 V output, then using LM2596S-5 is a good idea. You'd then get rid of R1 and R2 and just connect the FB pin directly to the output node.