275/65R18 is 1.08" shorter than 275/70R18, a −3.27% change in diameter. That is more than the 3% many tire shops use as a limit, so plan on recalibrating the speedometer and checking ABS and stability control.
Ground clearance changes by 0.54" (half the diameter change), and the tire needs 0.54" less room above it.
Both tires are the same width, 10.83".
Both fit a 18" wheel; the sidewall is 0.54" shorter on 275/65R18.
Details: 275/70R18 in inches · 275/65R18 in inches · change sizes in the calculator