I recently inherited some plants from a friend that moved out of the country. Found this bit of succulent that was partly submerged in soil. Just the middle of the stem is rotted and dead looking. I want to rescue it and I'm assuming I just need to cut off the dead piece where the arrow is pointing? I'm assuming there is nothing I can do with the bottom part that has roots?

Does this sound right? Just cut off the dead part and then either let it dry out or put it in water. I'm new to this so any help is appreciated!