Is My TP4056 and Arduino Nano ESP32 Battery Charging Circuit Correct?

Hi everyone,

I'm working on a project where I want to power my Arduino Nano ESP32 with a Li-Po battery using a TP4056 charger module. I also want the ability to charge the battery when the Arduino is connected via USB and seamlessly switch between USB power and battery power. I've drawn up a circuit diagram and want to make sure it’s set up correctly before proceeding.

Thanks in advance for your help and any suggestions or improvements you might have!