Here's one from October 2024:
Hormone Replacement Therapy
https://www.ncbi.nlm.nih.gov/books/NBK493191/
Gina Harper-Harrison; Karen Carlson; Meaghan M. Shanahan.
Author Information and Affiliations

Last Update: October 6, 2024.

See: Transdermal formulations

Conversely, transdermal estrogen bypasses the hepatic metabolism that produces activated protein-C resistance, negating the risk of blood clotting seen with oral formulations.[11] Transdermal estradiol offers several benefits, including avoiding the digestive system and liver metabolism, resulting in no changes to thyroid-binding globulin or hepatic coagulation proteins at standard doses. Transdermal delivery has minimal impact on the risk of VTE and is convenient, typically requiring application once or twice a week. This makes transdermal estrogen a better choice than oral estrogen for most women, especially patients who smoke cigarettes or have migraines. Additionally, transdermal estrogen has a neutral effect on blood lipids. However, topical forms may cause skin irritation or, rarely, allergic reactions, though this is less common with gels. Some women may experience poor absorption or forget to change the patch regularly.[8]