"Using the final CFP rankings, the selection committee seeds and pairs the top four teams and determines the participants for the other four non-playoff New Year's Six bowls that are not hosting the semifinals that year. These four non-playoff bowls are also referred to as the Selection Committee bowl games. These six games focus on the top 12 teams in the rankings; to date during the College Football Playoff era (2014 through 2019 seasons), of the 72 teams to play in a New Year's Six game, only eight have been ranked lower than 12th."
WikipediaThe New Year's Six, sometimes abbreviated as NY6, is an unofficial but commonly used term that refers to the top six major NCAA Division I Football Bowl Subdivision (FBS) bowl games: the Rose Bowl, Sugar Bowl, Orange Bowl, Cotton Bowl, Peach Bowl, and Fiesta Bowl. These games are played annually on or around New Year's Day, and represent six of the ten oldest bowl games currently played at the FBS level.
https://en.wikipedia.org/wiki/New_Year%27s_Six