About the position, did that happen using <figure> and <figcaption>, or using <caption>?
With <figure> and <figcaption>, I get the caption below the image.
With <caption>, indeed it goes below it, and it seems like a bug, as Canvas is removing the tags after saving, even though it is in the allowlist.
About the font, note that figcaption doesn't specify a different font automatically, as we can see in W3's example, W3Schools Tryit Editor (add a <p>some text here</p> below the figure and you'll see it has the same font as the caption).
You can change the font size yourself by adding a style, such as in:
<figcaption style="font-size: 0.8em;">Fig 1 - Caption here</figcaption>
But you can also note that the caption is a caption visually by noting it is left aligned to the image, not to other paragraphs:
