It seems cosmetic creams do not contain "real" strogens so I don't think those would cause melasma
According to this review, topical strogen on the skin has rejuvenating properties bit there aren't any cosmetic creams providing estrogen
"A variety of studies have also examined estrogen delivery topically. Estrogen is readily soluble in a creamy vehicle and easily penetrates the stratum corneum due to its small molecular size. It is the ideal cosmeceutical for topical application. Topical estrogen has been shown to increase the production of type III collagen and the overall collagen fiber count after 6 months of application (7). It also increased the acid mucopolysaccharide and hyaluronic acid levels in the skin, which are important for maintaining skin hydration and barrier function (
. The combination of increased dermal volume, due to more collagen fibers, and increased dermal hydration, due to more hyaluronic acid, may explain the decreased wrinkling apparent in women using estrogens. It is important to note that there is currently no other substance available to the cosmetic formulator that delivers such documentable reproducible results in women."
"The legal restrictions on the use of estrogen over-the-counter has led to an interest in phytoestrogens, especially those derived from soy. Phytoestrogens, such as genistein, daidzein, and glycitein, are found in fermented soy and can be consumed in the form of roasted soy nuts or tofu. Soy protein supplements have been investigated for their benefit in a variety of postmenopausal symptoms, but the data are somewhat inconsistent. One controlled study by Kotsopoulos et al. (9) found that a soy protein supplement had no statistically significant effect over placebo on dry skin. Yet, genestein is one of the most popular botanical additives to skin care products promising to decrease the appearance of fine lines on the face."
https://www.fertstert.org/article/S0015-0282(05)01028-9/fulltext