Just nitpicking, but that's not how a modern CPU works. The microcode does not execute the micro-ops, the microcode is used to generate micro-ops to be executed

Just nitpicking, but that's not how a modern CPU works. The microcode does not execute the micro-ops, the microcode is used to generate micro-ops to be executed, and in fact most instructions don't even go through the microcode, which is used only for complex or rarely used instructions. Simpler instructions are decoded directly into micro-ops.