The 747 is different to other types of Boeings, so your interpretation is incorrect.
The flap manoeuvre speeds are flown as minimum speeds for that flap setting. For extension of flaps, you shouldn’t be slower than the flap marker for that present flap setting (ie no slower than Up with flaps up, no slower than 20 with flaps 20.)
For retraction, the flap can be retracted once above the next flap speed. I.e. with flaps 10 extended, once above 5, then flaps 5 can be selected.