It's not just hormones. It never has been. That's very reductive. Men have larger hearts on average, greater lung capacity, denser bones, and different ratios and angles to their bodies that makes their athletic performance different from women. Selecting for hormone levels would not change that, the men would still dominate women physically in this arena because higher testosterone is not the only advantage they have in that regard. It speaks to great ignorance of human bodies and to athletic achievements to only argue on the hormone angle.
It's just so ridiculous. Men getting into women's sports know they'll have an easier time competing and that they'll get more attention both positive and negative, that's why they do it. No other reason (aside from perverse ones).
Everyone knows that pound for pound men are stronger than women. This is only not the case when you team up an exception of a woman with an exception dysgenic male that's spent his life in his mother's basement. If this were not true women would not need to be protected from violent and ill-meaning men since the start of forever.