I would have thought XL at 6ft5!
Effective TT is affected by the seatube angle, for every degree slacker it adds about 1cm to the ETT. So although the canyon is a cm shorter in ETT it’s a cm longer in reach, so I’m guessing the seatube is about 2deg steeper?
The net result is you’ll end up with a more laidback seapost to put the saddel back where it should be relative to the BB (assuming your current bike is perfect).
It’s more usefull on trail/enduro/AM bikes with droppers as they’re starting to get much slacker angles to compensate for the loss of any layback in the posts. Which would make the top tubes look artificialy long compared to a couple of yeas ago when layback posts were standard.