The footprint of your pond is not dissimilar to that of my own, and when I had my 2ft Paroon constantly on the move he looked splendid. Unfortunately,( or fortunately) he passed away before reaching 4ft because then he would have just looked way oversize for the pond , and 4ft is not his limit. If you feel in the future you could go bigger still, then yes Paroon could be good for now.
If you don’t want to be like the owner you mention with the redtail, then probably give it a miss and go for something else. I can highly recommend black shark (labeo chrysophekadion) if you want something with character which will give as good as it gets from a redtail and stays under the 3ft mark.