I am trying to work on a project which is using a Layout/Template which uses a lot of jQuery.
I have learned to integrate the template with ReactJS Project, however
Is this approach correct? Is it the right way?
No. No approach is correct and there is no right way to use both jQuery and React/Angular/Vue together.
The reason is that jQuery manipulates the DOM by, for example, selecting elements and adding/deleting stuff into/from them.
The other frameworks don't manipulate the DOM, they generate it from data, and regenerate it when the data changes.
The problem is, jQuery has no clue about React's presence and actions, and React has no clue about jQuery's presence and actions. This will necessarily lead to a broken application, full of hacks and workarounds, unmaintainable, not to mention that you have to load two libraries instead of one.
Solution : use jQuery OR React, not both together.