That entirely depends on whether one considers "woman" and "man" to be social identities that anyone of either sex can choose to adopt.

Many people don't accept that belief, for a variety of reasons, such as viewing that belief as being based upon sexist stereotyping of women and men.

Instead, they understand "woman" and "man" to be the words used to describe, respectively, female and male people who have reached adulthood.

From that perspective, a "trans woman" is simply a man (male) who desires to be a woman (female).