From what I see, low testosterone is a risk because there is a strong link between lower respiratory muscle activity and lower testosterone levels and high testosterone is a risk because high test -> more androgen receptor expressions -> more binding opportunities for TMPRSS2 and that gene seems to be an active factor in transcription of covid-19.
Its not a magic bullet but the TMPRSS2 angle is quite interesting since we could target drugs that temporarily minimize androgen receptor affectiveness to control the spread ( which might complicate other things in the meantime..)
Tangent, what's the state of drug discovery when it comes to simulating interactions of hormonal treatments with cells?