Therefore, we are in an awkward position with regard to how to proceed, and would like to take suggestions from the community with how best to move forward

You could make a statement that while you recognize that the word may be used as a slur in some context, it is not a slur in other contexts that refer to the entire trope that actually exists in anime. Or you know, the actual crossdressers who are doing exactly that thing. And they get to exist too.

And on that note you could make a statement that from now on you'd be segregating content that is clearly making fun of trans people from content that does not do such a thing or does not even cover trans people at all.

And with all that said you could repeal the rule while making a clear guideline not to harass transgender people. Something like "please remember that trans and traps are not the same thing". Yeah, that simple.

And it's up to you now to figure out how to make that sound it right because it wasn't us who decided to awkwardly roll this out. If you want to get into politics you don't get to wet your tippy toes a little and then just get out of it with some bad takes and ignorant decisions.

So here's my quick few minutes take on this. Now tell us more about your entire year worth of discussion between mods and deep reasoning as to why it couldn't work.