red represents sexuality - particularly the human female ovulating. it goes back to chimps having red ass growths to show they are in estrus.
when a women is sexually stimulated her lips will turn redder and she will naturally blush, as will her labia turn redder/pinker from an increased blood rush.
in a way women are now the peacocks - they will wear red lips and blush to simulate her sexual availability.
trans women tend to over compensate in their outward apearence. Red is the most feminine hair colour because of above.
Also as mentioned above red has been used by women as a manufactured signal of their sexuality. Wigs are also manufactured. In general red synthetic wigs are the most obvoiusly synthetic compared to brown and blonde cus most wig manufacturers are catering to either black women who need weave or white older women - red hair doesnt flatter either well and red heads are rare in general so their is little demand for good wigs .
Drag queens in comedies or comedy skits of men playing female characters have the red wig because its to most obvoiusly synthetic thus its comedic/quashes the audiences doubt. subconsciously the writer does not believe transwomen are real women so the image of the red stereotypical wig comes out in character design.
tldr Red is the colour of female sexuality, trans women over compensate, red wigs are a stereotype in media because they look the most fake/comedic, the writer subconsciously thinks trans-women are fake women...