What Should Be Done For Hair Thinning When Experiencing Telogen Effluvium?

I am a 53 year old post menopausal woman. I am experiencing telogen effluvium that began 2 months after I started on low dose vaginal estradiol cream for vaginal atrophy. I had not had any gradual hair thinning in the 5 years since menopause...just this sudden onset, it has been going on for 2 months now. I have been told by obgyn to wait it out, that it will resolve on its own, but the dermatologist says stopping the medication is the only way to stop it. Is it possible my body is just reacting to the sudden increase in estrogen? I am trying to wait it out, as the vaginal atrophy was really affecting my quality of life, but I am very anxious about this massive hair loss!