Hey bud,
I don't think it has any affect on moisture levels down south, but I'm also not in the medical field so not 100% sure on that. I do know that T can potentially cause dryness and atrophy, due to the drop in estrogen that it brings. I googled "may cause v* dryness" and apparently anything containing antihistamines can cause it, as well as certain antidepressants. Not that you should go playing with those things trying to cause it, since that's not their intention. But something to bring up to a doctor maybe as they consider what to do about it.
I have kind of been there. I didn't actually have any kind of excess moisture, but in my mind I did. Shark week for me was extremely predictable, down to the day so I always knew when it would be. Despite that, my brain, every time there was any kind of leakage, automatically went to "OH GOD SHARK WEEK" and I'd go the bathroom once every hour or so wiping and checking because I was so paranoid about it. It was ridiculous and could've been avoided if things would just be dry.