meaning - Is "~の方が格上だ" a set phrase of sorts?

I've never come across "の方が格上" before, I'm wondering if it's a set phrase that would describe someone being "out of your league" in terms of power/strength so the implication is that one cannot hope to beat the person in question?

This is the original sentence I saw it in:

ありゃ完全にあっちの方が格上だ

For context A tells B she was wants to get a little revenge on C (C beat her in battle some time ago), B rebukes her with "やめとけよ。ありゃ完全にあっちの方が格上だ"

Going by my assumption it would translate as "let it go. He's on a whole other level."

So is my assumption about ~の方が格上 correct?