Gay panic exists among women just as it exists among men. Maybe a bit less, because I think women are inherently more likely to be bisexual, but the really important thing is that a woman is much less likely to injure or kill you.
It's one of the things that go with being same sex attracted in a society that's 95% opposite sex attracted. It's mitigated for gay men by their amazingly efficient hookup culture, but I doubt if there are many lesbians who haven't had the mortifying experience of trying to chat up a woman who turns out to be straight.
This is all fine as long as everyone understands that "no thank you" is the only response that's needed. Honesty is the best policy. It's deliberate deception that's the problem.
There is - and this is well known in the trans community - a subset of male "chasers" who consider themselves straight and have convinced themselves that sex with a penis-having transwoman definitely isn't gay. But those men actively seek out transwomen, and they can knock themselves out if that's their thing.