Check here to see if preferred signal source feature available for your device, if not, wait for the firmware update, should be coming soon.
Not much of a use especially for devices like mobiles that you need it to roam from one point to another point, this feature benefits IoT devices, or device that you won't move around like laptops/desktops or TVs. The only good thing about it, is that you can set your mobile devices to keep connecting to the 5Ghz mode.
https://www.tp-link.com/fi/support/faq/3480/Yes, M4 deco is ac and supports up to WPA2 only, imo, WPA2 is enough, the better the security authentication method, the more power is needed to decrypt the password, hence why some devices (even those that supports WPA3) will face disconnection after some time.
Like one of my friend, who didn't know that his router turned on WPA3 by default, usually on first try, his devices can connect to the router without issue, by night time, the next day, everything is disconnected, and trying to connect back the WiFi will keep failing, initially he thought his router was defective and even called tech support to check, the support keep telling him to reset and reset port, but I came to help him, and set it back to WPA2, working until today, didn't need to restart at all.

XE75 v1 is not in the list, man ..
Really hope TP-Link don't play with me by not giving those feature for "old" hardware model.