Church doesn’t say every other faith is ‘wrong’ , she simply proclaims the fullness of the truth through the office of the Magisterium .(teachings which are inspired by the Holy Spirit and therefore infallible and absolute ) . In John 16:13 Jesus said …’‘When He, the Spirit of truth shall come, He will guide you into ALL the truth’’
Jesus didn’t just establish an invisible Church with all His members, He established a visible one also in the authoritative teaching office of the Magisterium. A church without authority is a church in disorder , confusion and error.
In the Catechism the Church actually discusses other faiths … saying that some faiths hold some of the truth or measures of it but yet ultimately God is calling all people into the Catholic Church which is the fullness of the truth. Your right in saying that many protestants have misconceptions of the Catholic faith which need to be broken down and thus informed, but that can only happen if they are receptive to it.