As a trans occasional-user of Facebook, I never saw any censoring of transphobic hate speech. During any administration, I was fed very many posts from nominally pro-queer visibility pages that existed primarily to bait interaction from vehemently transphobic or homophobic users. I saw everything you could imagine stated with zero repercussions from site staff or even the consensus of other users.
W/ that said, censoring anti trans stuff and racist stuff makes the platform more pleasant for me, whereas what they're doing now does not