A body born male, especially if transition took place in adulthood, may always have some male characteristics advantageous in some sports, e.g. the shape and strength of the male skeleton may be advantageous in weightlifting, no matter how long someone has been on HRT.
However, if the rules allow it, I say compete by all means. We do not have to be police, prosecutors, witnesses for the prosecution, judges and juries if we are also the defendants.
Besides, nobody wins a truly fair competition based purely on physical ability. Everyone wins because they have some physical characteristics, inherited or developed, that are superior to those of their competitors. If the number of competitors or the interest of spectators merits it, such advantages can be categorised. For example, boxers are now categorised by weight advantage but in the days of bareknuckle boxing, fighters were not divided from flyweights to superheavyweights. John L Sullivan was far larger and heavier than Charlie Mitchell and knocked him down many, many times but nobody suggested that Sullivan had an unfair advantage, and because the rules demanded a knockout blow, the fight ended in a draw.
Games for disabled athletes are an example of athletes with unequal physical abilities competing against each other as good sports. At present, athletes with no legs often compete against athletes with one leg.
If the number of trans competitors and public interest ever merit it, trans people might (but I hope not) be forced into their own competitions. Till then, I say, compete as a woman, if the rules allow it.