This is correct. I just bought an Explorer spare because it was cheap. It won't fit over the front calipers, but it's very close. I suspect even a 10mm spacer would allow it to clear. But the main thing is that you can use it on the rear axle with no issues since it's the correct diameter.The Ford optional spare kit available through the parts/accessories dept will clear the standard brakes, the issue is the 20" factory wheel option actually comes with a taller tire than the standard size. The spare tire in that kit is already 1.5" shorter than the standard tire size, and marginally acceptable on the rear for limited use only due to potential damage to the differential, at least according to some technical info from Ford about the differential tolerances.
The reality is the 20" tires are only about 1/4" taller than the standard tires, and some people have said the difference in diameter with the spare is no problem for either the standard tires or the optional 20's as long as use is limited to 50 miles.
If you really want a spare in the trunk (which I highly recommend regardless of what size you get) and you want to make sure there's no potential for damaging the differential in the event you have to use the spare on the rear, you can always get a 165/70-18 replacement tire (which is the size of the Explorer spare) and mount it on the rim from the Mustang spare kit. That size is a full 27" diameter so it will work perfectly well as a spare with any rim/tire combo the Mustang came with.
In case you're thinking to just go pick up a complete Explorer spare, unfortunately the rim from an Explorer does not clear the Mustang GT brake calipers,