Why point sizes?
WCAG predates the CSS pixel as a typographic unit and uses the print-typography point (1/72 inch) as its reference. Browser default 1pt ≈ 1.333 CSS px — which is why 18pt becomes 24 CSS px and 14pt becomes 18.66 CSS px.
In practice this means: text that is exactly 18 px (Tailwind text-lg, Material body-1) is NOT large under WCAG. It must hit the full 4.5:1 ratio.