Some master's programs might require a much shorter thesis (e.g., 10,000 words or even less), while others might indeed require a longer one, exceeding 20,000 words. Some programs might even replace the dissertation entirely with a substantial research project, a portfolio of work, or a capstone project.
You should always check the specific requirements outlined by the university and the particular master's program you are applying to or are enrolled in. This information is usually available on the program's website or in the program handbook.