I have a cousin who is gay and manages an LGBTQ campground. They routinely sponsor events like drag shows and such. He posted some pics one time of their "Little Red Dress" competition. I thought, "Oh my! At least shave your legs and armpits!"
He just laughed. He is not into drag or cross-dressing; he was just participating with the other campers in the event. They always have a great time, and it is fun to see some of the costumes everyone wears. Some of the events are like the "Little Red Dress" or sometimes a "Black Dress", Tiki Night, and a Miniskits and Go-Go Boots Dance. It looks like so much fun.
So, whether you want to shave or not, the important part is to just have fun! It is only hair, and it will grow back if you don't like it.