USB-PD is designed to supply upto 20V/5A(100W). However, the available power is offered at 4 different levels- 7.5W, >15W, >27W, >45W. The available voltages for each level can be checked from this graph-
Also, in order to select the amount of power you want to draw, USB-PD requires the two connected devices to communicate to each other(a "handshake" has to be made to select the appropriate power/voltage level).
Since your display requires 12V(and probably around 2A, as most displays do), you would have to build a logic circuit to communicate with your MacBook via the same USB cable and then hook it to a buck/boost converter to regulate the voltage to 12V.
^Both of these are meant to supply power TO the MacBook and not draw power FROM it, hence these only supply the required power and won't allow you to draw power from the USB port.
If you want to design your own circuit to handshake with your device, I would recommend starting here and here.
If not, I too would say to go with a 12V adapter or a battery to power your display, it would add a bit of hassle but is a much simpler solution.