Generally it isn't (thought to be). We only produce progesterone in very large quantities after ovulation because it is a crucial hormone of pregnancy (hence its name). It is only needed in large quantities for pregnancy. At other times it is produced in very small quantities and continues to be produced post-menopausally as part of our metabolic (steroid) pathways. As I understand it these small quantities are sufficient once we are no longer fertile.
A few women during peri-menopause feel better when they take progesterone when oestrogen is surging, but I gather from what l've read that this is a very small minority. Also I think its use at this time is more when taken in pharmaceutical quantities ie a bit like a drug rather than at the quantities produced in the ovary. Some women find it calming but most find it far too sedating - depressing, foggy-head inducing etc
There is a huge industry based on the premise that declne in progesterone is the leading cause of menopausal symptoms - the theory of oestrogen dominance but this is flawed and was designed to sell progesterone cream and is not borne out by scientific trial data!
Hurdity x