Computer engineers require a bachelor's degree in computer engineering, electrical or electronics engineering, engineering physics or computer science.
A master's or doctoral degree in a related engineering discipline may be required.
You definitely need a bachelors degree but not a masters.
The NOC codes are read like this:
First digit = 0 ---> Skill type 0, usually manager positions
If the first digit is not 0, you must look at the 2nd digit.
Second digit = 1 ---> Skill level A, university education usually required
Second digit = 2 or 3 ---> Skill level B, apprenticeship or short college program may be required
Sometimes no college is required, just work experience. You just have to read the description for each NOC.
If the first diigt of the NOC is not 0 and the second digit is 4 or higher, it is not a skilled occupation for immigration.