Not oversized. The Udaloy class is fairly about the same size and this is optimized for ASW.
Steel is the cheapest component of a warship. An increase in tonnage is the cheapest thing you can add to a warship. More space also means more provisions, fuel and food with more living room for sustained journeys.
Frigates continue to get larger. Type 31 "intermediate frigate" is already about roughly the size of the 051B/C. Germany has contracted frigates that would displace already at over 10,000 tons.
With the Udaloys, you can also see they have been built with an extremely long range in mind. It's listed as 19,400 km @ 14 knots.
That is 3x more than the contemporary Sovremmeny AAW destroyer
You can also see 64 Medium-Range SAMs on the Udaloy, which is twice as many as the Spruance ASW destroyers or most Frigates
Yes, the Udaloys were optimised for ASW, but it looks more for long-range ASW operations far from resupply
The other Frigates you mentioned all have to travel long distances as well, but I don't see China having a requirement for a long-range ASW ship in a high-intensity conflict for some time yet. Eventually yes, but not for another 10 years.
Until then, I expect Chinese ASW ships would be operating at a maximum of 3000km (eg Guam/ASEAN) from the Chinese coastline, and frequently would be a lot closer to home
So I think a 4000ton-class ASW Frigate (like the Type-054, OH Perry or Neustrashimy) is more cost-efficient than a 7500ton-class ASW Destroyer (like the Udaloy or a Type-052 ASW variant)