I listened to this song through my E10K and 598s at loud volume (about 6 on the dial at low gain), and this song does have a bit of sibilance to it. It's not too bad. I've heard worse. So I'd say the song itself has some sibilance recorded into it.
I don't have much experience with many different amps, but it looks like you did your research. You should trust your gut and go with it. Maybe someone else here could suggest another quality amp in this price range, but having had the Magni 2, I was pretty happy with its look and build quality for the money.
Have you tried using other headphones? If they're not sibilant, then it's likely your M4U1's are the culprit.