It took me time to get used to my first tri bike - probably a few months to be able to ride with confidence without getting out of aero for every turn/etc. The fit might take time to get dialed in too. I'd definitely start doing long rides on the new bike 7-8 weeks out before the IM.

The difference between 105 vs ultegra is really immaterial.

For the wheels, consider buying a used Flo 60 front (can be had for under $300) and getting a disc cover for the rear from Wheelbuilder. That'll get you almost there.

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Next races on the schedule: none at the moment

Good advice all the way around. ^^ I agree that there are a lot of adjustments that need to be adapted to, so I'd budget a lot of time for that. You want to be confident on race day, and based on most of the Canyon time estimates so far I would not feel very confident that those times will be met. If you want the better bike, just plan on riding your roadie for the first races.....

If you are used to riding a road bike with clip on bars the steering should not take a lot of adjusting to. However getting the best fit for power output and adjusting your muscles to a new position will take time. It is worth waiting for the bike you want in my opinion.

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My foray into time trialling at the age of 60
https://sixtyplustimetrialling.wordpress.com/

What are your fit numbers?

I think it’s worth waiting for the bike you want. I’d be super concened if you got your bike gets there mid Jin and you only get to ride for a few ride and it’s challenging to fine tune your fit in just a few rides

Thanks for the advise, seems like I want to get as much time on the TT bike as possible.

Think I'm going to go for the Speedmax CF 7.0 now. I was planning on upgrading to Di2 at some point down the road so not a massive deal its 105. Plus I quite like the idea of renting race wheels for my A races and using that saving to get a power meter.

It seriously took me about 5 min to get used to my first tri bike.

The time required to adjust between bikes is a function of position. When I bought my first TT bike I was immediately comfortable on it but it was set up nearly identical to the road bike I had been training on. Moving forward with 10+ years of training on a TT bike and it has taken me the last 6-7 months to adapt to a much more aggressive position after making some tweaks at the end of last season.

My suggestion is don't go for broke out of the box in terms of position on the bike. Get the bike set-up so it feels natural and then slowly make adjustments if you feel you can get into a more aero position. Trying to change too much too fast will lead to a loss in power on the bike but more importantly will leave you toasted for the run.

As a final note Canyon are not the most reliable company for delivering bikes within their original stated time estimates. This issue is supposed to be improving but I would advise planning for an additional delay when ordering from Canyon relative to what they list on their website.

Technical aspects of ride and fit not my strength, but I had my first year on TT bike in 2017. Getting used to it not a massive issue, but I used the bike on a trainer and found a massive difference between indoor and outdoor riding. My heart rate was maybe 10% higher Outdoors - perhaps due to more muscle recruitment for balance etc? Came more back in alignment over time but still not in exact alignment with indoor by the time my races came round in July and August.