To be fair, in sports males have an advantage, in all likelihood in a beauty pageant they have a disadvantage.
I doubt that is true. There are quite a few issues around what constitutes an ideal feminine beauty, exacerbated by the availability of surgery and photoshop. However the standard seems to be rake thin and tall, probably over 5'8", masculine features not necessarily being a problem.
Secondhand, but I know someone who knows a leading international fertility expert, who attracts high profile patients from across the world. Apparently it is far from unknown for it to be discovered that the underlying cause of infertility amongst successful models is DSD. Essentially, and like some very successful 100m runners, they have XY chromosomes but female looking genitals. The career requires models to watch their weight closely, so the fact that they don't menstruate is not picked up until retirement and wanting to start a family. Which is sad on an individual level, but perhaps illustrative of how unreachable expectations of beauty can be.
The cynic in me wonders whether there are links. Model, athlete, "businesswomen of the Year", beauty queen, politician. All potentially female role models, yet all roles that some seem to think can be performed better by men.