It is not a stretch. Tolkien was a devout Catholic. The story has a wide variety of allegorical symbolism pointing to a profound Catholic faith. The ring is a metaphor for sin. In famous scene of Boromir’s death, in telling Aragorn he succumbed to temptation by the ring he says, “I have failed.” To which Aragorn, the rightful King, recognizing Boromir’s atonement, replies, “No, brother, you have won a great victory.” This is a blow-for-blow metaphor of the Sacrament of Reconciliation, aka Confession.

Many writers have written on the vast number of Catholic themes and metaphors in LOTR, but one great example is Frodo’s Journey: https://www.amazon.com/Frodos-Journey-Discover-Hidden-Meanin...

Many of his arguments are summarized in this interview: https://youtu.be/HKqvCRc0wWU?si=CPY3SpvRsZ_ZK-Tw