I wrote a lengthy comment here about bike fitters. They can also help with this. It's however often more complicated than just a few measurements. They often ha

I wrote a lengthy comment here about bike fitters. They can also help with this. It's however often more complicated than just a few measurements. They often have a special bike where literally everything can be adjusted (google retül bike), and then when the fit is done (~1h) they got lots of parameters that can be put into a DB to spit out bikeframes+gear that will work for the rider. However, my experience is that the system still needs a human expert to verify and tweak the results. However, for a basic fit your method works. For instance when buying a Canyon they ask for your measurements for some things to recommend frame size. But this of course if very rudimentary and already assumes you want that model.