Me, I had a very smallish face pre-HRT and quite often passed as a women as is in my early 20's.
By month 3 went into androgyne territory, month 4, got mamed 90% of the time, passed 95% of the time by the time I got my rhino done and my brow bossing removed. From then on, no problem at all except for those twits who've seen me transition in my neighborhood and give me grief.
First thing to improve, the skin, estrogen to produce new collagen and your skin stops being oily, you complexion clears a lot. In 2-3 months, that alone if you have done electro before, can change your appearance a lot. By month 3, had an 36A cup (I started with AA breasts from my previous use of hormones in my 20's), month 6 (36B cup) , month 10 (36C cup, my current size, but I think by years end I may approach D, that would be month 18) .
At one year, muscle mass on the upper body has gone down about 30%, 5-10% on the lower body, loss a lot of visceral fat (the one under the abdomen wall that pushes it out, that's so typical of men) and a bit of belly fat. Gained some fat on the buttocks and thighs very quickly 4-5 months, but since I've lost weight in general, it hasn't gone up more.