Yes. Channel points requires a user token
Not a server to server token.
As server to server tokens (simply) do not have access to priviledged/scoped data as they don’t represent a user.
You can also see in the documentation for the endpoint you are trying to call
Authentication
Query parameter broadcaster_id must match the user_id in the User Access token
Authorization
Requires OAuth Scope: channel:read:redemptions
You need a “user Access Token”