In my experience, using too much testosterone can reduce sensitivity. You might try experimenting with doses that are more physiologically realistic. If I'm interpreting your previous statements correctly, you had been on 140 mg of testosterone cypionate per week, and have reduced to 120 mg. These doses are giving you about double the testosterone the average healthy young guy produces naturally. This is reflected in your lab work, with total testosterone of 1,219 ng/dL approaching double the average. If this is a trough measurement then the peaks could be more like 1,500-2,000.
In your place I would drop to 70 mg TC per week split into at least two doses. I'd expect some withdrawal symptoms, but would try to give things at least 12 weeks to settle down. Athletic performance may not be quite a good as at the higher doses, but I'd hope for overall health and wellbeing to improve as testosterone returns to more natural levels.
Read what others have said about less being better. I include a list below, but here's the quote most relevant to this thread:
I experienced this "dead wood" penis insensitivity on and off for a long time while on dosages around 100 mgs per week of T. When I lowered the dose down to 60-70 mgs, sexual sensitivity improved considerably. Erectile function is also more responsive and reliable.
At first I felt the effects of low T for some time. Over a period of months this corrected itself and I feel much better all round.
I had tried this before, but given the "low t' effect, I resumed the higher doses thinking, my dose was too low. This time I persisted and gave it more time for my body to adjust.
How important this was!
Too much testosterone is not a good thing, especially for your penis.