Seems a modest drop in SHBG would be a good thing for me. We'll see where it sits with new labs in a few more weeks.
Also seems to me due to the need to drop HCT/HGB and E2 that lowering daily dose below 14mg would be appropriate. I really don't need a rise in any related hormone level and can probably tolerate some modest decrease in TT/FT. I was doing badly at pre TRT levels of TT 281, FT 3.1, and I was doing considerably better but not there yet on gel at TT 443, FT 14 prior to going to T cyp. I think some of this related hormone elevation is a flywheel effect of starting at much too high a dose of T cyp back in October which put levels at trough of over 1500 and Ft at 39.7, which was seriously overshooting the mark.
Maybe try 12mg daily and go from there.