I have put on a lot of weight and my friend told me that cycling helps in weight reduction. Not sure how far true that is. Anycase, has anyone got any suggestion for a good beginner’s bike model?

My cousin just got delivered a road bike from 5339. It’s a BMC Streetfire SSX. I took it for a spin but I am not sure if this is the right model for me. I think I can settle with something more simple. Suggestions will be really appreciated. Also has anyone got their weight reduced due to cycling? If yes, can you suggest what kind of cycling routine you have Like how long do you cycle at what speeds you do it and stuff? Thank you!