Tagging project with dependent subproject repos in Meson?

I'm using Meson build system for my project. The main project repository has several Meson subprojects, which are separate repositories (defined in the .wrap files).

Example of wrap-git file:

[wrap-git]
url = https://github.com/libfoobar/libfoobar.git
revision = main

How do I tag a release of my project, considering subprojects and their repo revisions stated in the .wrap files?

This is the workflow I had in mind:

• tag subproject repositories (those are self-contained, no dependencies)
• create a release-v1.0.0 branch for the main project repository
• change .wrap files in the release-v1.0.0 branch so they point to subproject's tags (f.e. revision = v1.2.3
• tag main project v1.0.0 from branch release-v1.0.0

Is this the proper way to go when tagging project with dependent repos in Meson?