What Mitch and Max said, pretty much.
My doc told me up front that she couldn't really give me a timeline, because there's almost no data on how this works for older guys. I started T at age 61, and I'm just coming up on two years.
I do think most changes are happening a bit more slowly, probably just because as we age, our whole physiology slows down. My voice changed "right on time," and I've been very happy with that. Hairiness is slow, but it's happening -- every week there's a bit more.
Muscle development is one area that I think is very much affected by age, which makes sense because everyone loses muscle as they get older, so gaining muscle is already an uphill battle for any older guy, whether cis or trans. But it does seem possible with consistent workouts, and there's no question that I'm much stronger than I've ever been.
Max's point about facial hair is a good one. Adolescent scruff is NOT a good look for an older gentleman.

My beard is coming in, but I have a long way to go before I'll be able to grow a decent one; on the other hand, this is something that can take several years for cis guys, so as long as I see progress from month to month, I can live with that.