Some of the noticable changes in my experience (20 years old).

Medicines are cyproterone 12.5mg daily and 100mcg estradot, 2x week.

Physical changes:

~ 1 week: noticable skin softening

~ 1 month: different kind of body odor, not so strong smell from sweating. Less "peppery".

Also: No more "morning wood". Not easily aroused. Less amount of semen and its more watery/runny (lower quality).

From 3 months ~ : nipples got swollen and touching them kind of hurts, like a bruise. Some lumps behind nipples started developing and they are cone shaped.

No noticable changes in mental health or perception of surroundings, taste, touch and other sensations.

Still reacting more or less the same to surroundings and experiencing things the same way as before. (Personality did not change).

Anecdote: More emotionally stable. Less drastic mood changes.

6 months ~ : testicles noticably smaller and breasts are getting noticable to others.

Also: Shortness of breath comes more easily after physical activity such as running than it did before.

I think it is important to say that if you transition after like 17 or 18, then for most people, changes by hormones alone, even after a long time, will not be enough for other people to perceive you as naturally female and to be treated as a female (or male). Hormones do subtle changes, mostly to tissue. This is of course highly individual.

For most people it will require some surgeries and hair removal as well.