While I will agree a 30 minute dedicated election show doesn't belong on CNN International, it makes a bit of sense. People around the world know CNN as an American news source, and turn to CNN International when they want specific coverage of something happening in America. This U.S. election (this one in particular) is such a hot topic & viewer demand I assume is high.
Related: Did BBC World News ever simulcast the news channel's "Election Tonight" about the UK elections?
Election Tonight didn't simulcast on BBC World , they kept World News Today in that 1930 Uk time slot. I am not sure why they added this program though, CNNI just gave you US election story (I consider the whole thing one story) during the Wolf Simulcast and more. Though I do think they are leaning the direction with CNNI to be the news channel for Americans abroad more than a news channel for an international audience.
Not sure if that's the reason since you can get all the US networks all over the place. I think it has something to do with money. It must be much cheaper to simulcast than to pay for a show.