More information on your CRS can be found here: https://epsg.io/26917
There you can also see that
Ellipsoid: GRS 1980 by default, and is a projected CRS, with UoM in meters.
GIS Stack Exchange tag description on
An ellipsoid is a closed quadric surface that is a three-dimensional
analogue of an ellipse. In geodesy, a reference ellipsoid is a
mathematically-defined surface that approximates the geoid, the truer
figure of the Earth, or other planetary body.
So your project set-up should be good as long as your project is within the extent given on the website at the top of this post.