HRT will surely help with fat redistribution, but it's hard to say how much or how fast. I think the most effective way to get optimal results is to lose a lot of weight before HRT - considering one is overweight, of course then putting a little on when hormone levels are well settled. In theory, all the new fat would go to the right spots, I think, whereas if you just wait for your current fat to move, it would be slower, since it would need to be burned and re-stored to move, and if no weight loss happens, that's gonna be long and imperfect (you pretty much always lose the fat you got last first - so all the older fat may not even move in that case).