To understand the differences between men and women, and relate that to sport, we need to look at far, far more than testosterone levels.
For example, take hand grip strength - a study done shows that there are massive differences between men and women, and even the strongest fittest female athlete is unlikely to reach the 25th percentile level for ordinary, unfit, average male.
here is an abstract referring to skeletal size - there are literally thousands of articles like this online, showing that men and women of comparable ages, sizes, fitness levels etc etc have very different strengths, lung capacity, muscle mass; whatever you want to compare someone has done it and every single time the male body, because (presumably) of the effect of having 18+ years of testosterone influence, comes out on top.
No-one would think it ok for a woman to openly take testosterone for 10 years, then stop and enter the olympic games - she'd be called a cheat.
I don't accept that any male-born person should ever enter a women only event, no matter how old, unfit, surgery-altered or hormonally influenced their body is.