This is exactly what I have in my shortcut that I use for putting the system to sleep.
C:\Windows\System32\rundll32.exe powrprof.dll,SetSuspendState Sleep
This triggers S3 sleep. Note that I have disabled hibernate on my machines, I find it pretty useless and slow. That may trigger hibernate if it's enabled.
Here's what Google AI says...
Yes, rundll32.exe powrprof.dll,SetSuspendState 0,1,0 often triggers hibernation instead of sleep if hibernation is enabled. The first parameter (0 or Sleep) controls whether it hibernates (true/1 for hibernate, false/0 for sleep), but rundll32 misinterprets the passed arguments, causing Windows to default to hibernation if it is turned on.
I don't routinely leave tons of stuff open day after day, so sleep is fine with me. I also have a 1500VA UPS that gives me 60 minutes of runtime for a power outage. I have Windows set to shutdown after ten minutes of power loss, well before the battery runs out.