Referring to this:
https://assets.nexperia.com/documents/data-sheet/74AHC_AHCT541.pdfIt's actually the AHC that's called for in the 5V->3.3V conversion role. Because the AHCT is only specified for 4.5~5.5V operation, whereas what we want to do here is operate the AHC at 3.3V to produce the correct output levels, while taking advantage of the 5V-tolerant input (I guess both AHC and AHCT have the 5V-tolerant input, but this doesn't give you much extra margin with the AHCT whose minimum recommended VCC is 4.5V).
cheers, Nick