That is right but nonetheless the Old Testament includes material that was heavily edited and modified (to match both the conception of the editors about what is sinful and what is not, and also the political propaganda that was mandatory, i.e. that the Persians are the good guys while the Egyptians are the bad guys), whose origin was in much older stories, older by centuries and even millennia, e.g. the Gilgamesh Epic and other Babylonian literary works.
So some references from the Old Testament may correspond to people or places from many centuries earlier than the time when it was assembled, similarly to works like the Iliad and the Odyssey.
Try 500 to 700 years. (Hittites collapsed around 1200 BC, the Old Testament was penned between the 700s and 500s BC.)