Within a built-up area, what should you note when driving on a road where this traffic sign combination is displayed?

You answered correctly. The sign shows a one-way street with an additional sign allowing cyclists to travel in both directions. This means cyclists may move in your direction, even though cars can only go one way. When overtaking cyclists within built-up areas, you must always maintain a minimum passing distance of 1.5 meters. Cyclists are not required to use the footpaths; they are allowed to use the road. These rules are meant to make sure all road users remain safe when sharing the street.