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The hormonal process of testosterone converting to DHT, which then harms hair follicles, happens in both men and women. Under normal conditions, women have a minute fraction of the level of testosterone that men have, but even a lower level can cause DHT- triggered hair loss in women. And certainly when those levels rise, DHT is even more of a problem.
Both the fall in testosterone and the shift from testosterone to DHT allows increased effect of estradiol. Male estradiol levels are equivalent to or greater than that of postmenopausal females, but normally estradiol's effects are suppressed (antagonized) by the male's greater production of testosterone. Perhaps estradiol Is also the culprit (along with DHT) in prostate growth.