https://blog.cloudflare.com/cloudflare-servers-dont-own-ips-...
In summary, the location at which an IP egresses Cloudflare network has nothing to do with the geo-ip mapping of that IP. In some cases the decision on where to egress is optimised for "location closest to the user", but this is also not always true.
And then there is the Internet. Often some country (say Iran) egresses from a totally different place (like Frankfurt) due to geopolitics and just location of cables.