Will upgrading my AWS EC2 t3 small instance to t3 medium give better CPU performance

Question

I'm currently using an EC2 t3.small instance (unlimited mode) for a service that is CPU bound and usually runs at 60-90% of max CPU utilization but occasionally hits 100%. I want to upgrade to an instance with greater CPU performance so I don't hit max CPU utilization.

My question is: will upgrading to a larger t3 instance (e.g. t3.medium) give more CPU performance? From what I've been able to discern, the t3.medium still has 2 vCPUs just like t3.small. So will it give the same performance, just with more RAM and a higher baseline utilization/more CPU credits? In that case, the t3.xlarge with 4 vCPUs seems to be the next upgrade in the t3 family that gives more CPU capacity. But if that is the case, it seems like a c5.large would be the cheaper upgrade step.

Is my thinking correct here or am I missing something?