Yes I ended up doing that and the update completed. I have a dual monitor setup and when it was hung, the progress bar was on the primary monitor and when I turned off the machine and restarted, the progress bar came up on the other screen, which I thought was a bit strange.My M1 Mini had the same hung update (though my download was fine). I ended up just turning it off and back on again and then it was able to complete the update.
Once I logged in, the monitor config was lost (two screen positions were in the wrong place, and the resolution was also lost) so I had to re-config.
I had Time Machine backup so I was not so worried about losing anything but it was just the bother of having to restore, if anything was lost. Glad I didn't have to do that.