Four starting sheet sizes, folded down. The sheet sets the panel size, and the panel size decides whether the finished piece fits a literature rack, which is the constraint most people discover after printing rather than before. Filter by how much room the content needs.

8.5″ × 11″ sheet, folded (the default) fits racks and folders.

8.5″ × 14″ sheet, folded: more content, still fits a rack.

11″ × 17″ or larger sheet. Images need room to work.

Your sheet, fold and panels. No standard sheet or fold fits.
A letter sheet tri-folded gives panels just under 3.7 inches wide, which is what literature racks, envelope windows and folder pockets are all built around, that compatibility is why it stays the default. A legal sheet is the cheapest way to buy more room: the panels get taller while the width stays rack-compatible. Large formats give images real scale but will not fit a standard rack, so if rack display is part of the plan they are the wrong choice.
Two things go wrong repeatedly. Content laid out as pages rather than panels means the panel a reader sees first is not the one designed as the cover, that is fixed at the proof stage, not after. And from about 170gsm upward on coated stock the sheet must be scored before folding, or the coating cracks white along every fold. If you need more than about eight panels, a stitched booklet is cheaper and reads better than a difficult fold.