Yes it is true. To be precise, Microsoft will end support for Edge browser by March 9, 2021. That means you will not be able to receive any updates in windows 10. However, Microsoft rolled out an update for the new Chromium based browser Edge at the beginning of the year which has been in development since 2018 to replace Microsoft Edge.
For Internet explorer (IE) 10 and older Versions, the technical support and delivery of security updates ended in January 12, 2016. Unlike for the Edge browser, Microsoft still offers support for the new upgraded Internet Explorer which is secure and fast. Consider making an upgrade for better browsing experience.
https://www.microsoft.com/en-us/microsoft-365/windows/end-of-ie-support
You can still use the older versions at your own risk.