Usually I would say yes that is the way to go. However for a tracker you want the lat & long as attributes, which you can do with either the integration or sensor platform.
e.g.
However something else to consider is that unfortunately there is no template or restful device tracker. There are a couple of work-arounds though:
Use an automation to publish your sensor data to an mqtt broker and use this:
Or use the known_devices file: Create a device tracker from sensor template (GPS coordinates from REST API) - #3 by rompca7