Still liking your post, because you appear to have thought about it for a fair bit,
And it seems to me my response does not fully or in complete logic address your post.
Just states my opinion.
Not ignoring the cis, trans, terminology 'just because I disagree with it, but also because I find it confusing to use.
I don't know much about Laurel Hubbard, but I'm assuming they were born with the body of a man, and developed much of their life that way.
To my eyes, that places an unfair advantage, also to my biases, people who transition from one sex to another, do not transition.
I have a more difficult time arguing against people born with 'physical not 'mental confusion between sexes.
But assuming that their number are few enough, they can be discounted as an anomaly, and unfortunately barred from competition.
We have systems of separation in life, people who are born with rare conditions such as Conjoined twins, are just out of luck. For the moment.
Returning to women who have been kept out of competitions for having higher than allowed testosterone levels (that they produced naturally).
I don't know much of this claim, I Google it, and see a Reddit claiming she has Male sex organs (albeit just internal testes as a result of a chromosomal disorder), [No ovaries or womb]
I'll have to think about your claim that there exists significant differences based on race.
I'm not concerned 'strictly about a man who's had a sex change to. . . Grr, how do I discuss this without offending a person or admitting their definitions I disagree with? Sorry.
A man who's had a sex change, to try to be a woman. It doesn't matter to me 'just that they ought to be stronger than natural women.
Even if a man agreed to have both his hands cuffed behind his back when fighting a women.
To my prejudices, men just don't fight women.
Also the tendency of differences in body, but the argument that men who have had sex transitions to try to be women, might be weaker, doesn't move me.