Why does RCN need fast carrier with monoplanes?
From WWI, (we always refight the previous war, just with better hardware) the main combatants will be U-Boats and HSKs with may be an occasional warship raider to be located and slowed down, so the capital ships can earn their pay.
And much of the effort can be in mid-Atlantic/Northern Indian Ocean/Mediterranean Sea
With that requirement, our carrier needs:
Long range (ideally with enough extra capacity to extend range of escorts aka USN Casablanca class) - Diesel engines are advantageous for part power efficiency/rapid acceleration (relatively) to launch/recover planes.
Long range invokes some crew size requirements -> e.g. they will need a doctor on board (historically, it was...challenging...to get a doctor aboard a MAC.)
Planes fulfill the ability to:
a. locate U-Boats, b. force U-boats to submerge and c. direct escorts to the kill
i. locate HSK and ii. direct escorts to the capture/kill
v. locate Raiders, vv. maintain surveillance and vvv. slow so gun ships may apply the coup de grace
as they aren't facing enemy air opposition, biplanes do fine.
It's not going to fight a carrier vs carrier battle in Pacific, but it can do its part to win the Battle of the Atlantic