Setting environment variables from python script when this python script is called from bash script

Question

I am running a python script from the bash script, and this python script is responsible for fetching the environment variables and setting them up. My code is as follows:

Bash Script:

activate.sh
$(echo /path/to/my-script.py --my-profiles setenv)

Python Script:

my-script.py
def main():
    parser = argparse.ArgumentParser(description='My script')
    parser.add_argument('--my-profiles', dest="profiles", 
                        type=str,
                        default='')
    parsed_args = parser.parse_args()
    if args.profiles == "setenv":
        env = {'SOME_ENV': '1'}
        for key, value in env.items():
            os.environ[key] = value

When I ran the bash script, I expected that the SOME_ENV would be set to 1 in the terminal where I am running the bash script. However, the environment variable is not set.

From little research, I think (maybe) this is because the python script creates a child process, and the environment variable is set in that child process and is not persistent in the terminal I am running my bash.

Is my understanding correct, if so, how to better deal with this situation?

NOTE: I get the environment variables as a dictionary from other tools. I only kept the part of the code that is necessary for this answer.