I asked my school's Canvas support team, and from them, I managed to have some communication with the L1 and L2 Canvas support team. Currently, they claim that it is the problem of Chat tool being enabled in the course causing the spike in CPU. They promised to have their engineers looking into it, but do not give an exact timeline to address it. Therefore, it may help a lot if more people encountering this issue could voice out and raise the alarm to Canvas support team.
The email address I communicate with the Canvas support team is support@instructure.com
Alternatively, you can contact your school's Canvas support team, which will help to create the ticket to contact Canvas support.