Being on feminine hormones pretty much removes any advantage if you've been on them for a while. There are typically rules about that for (at least) high level competitions. You can't just walk in and state your gender for that kind of thing.
For example, the olympics were open to transgender women for over 20 years. Number of participants? One. And she finished dead last.
There are some high-profile cases, like Riley Gaines making an entire career out of "losing" to a trans woman - but they were actually tied fifth, and the whole drama is about her getting her trophy in the mail, because who gets to hold the trophy at the ceremony is decided by alphabetical name ordering.
Can you find examples of any trans woman ever beating a cis woman? Obviously - just like you can find examples of a blonde left-handed aquarius beating a righ-handed pisces redhead. But trans women dominating a competition? That just doesn't happen.
Being on feminine hormones pretty much removes any advantage if you've been on them for a while. There are typically rules about that for (at least) high level competitions. You can't just walk in and state your gender for that kind of thing.