Even with testosterone, when you wear them only now and then, briefly, yes you get aroused, at least that was the thing for me.
But when I started to use solely womens clothing and transitioned, it kind of became ordinary thing and there wasn´t anything to be aroused anymore.
I don´t necessarily think, that arousal from womens clothing has nothing to do with sexual thing itself, it´s just that it is something that is forbidded, something you need keep hidden. That is exciting in itself.