Elevated hemo/hemato in normal non hrt people is an issue. A lot of times it can mean they have PCV which is a rare bone marrow disease. How you tell is if your platlet count is above 1000 and your hemo is elevated that is usually a clear indicator. Then you would want to donate blood and see a specialist.
If your hemo is elevated from TRT that is an increase in oxygen in your blood. The same reason fighters train at high altitude. Its a good thing. More oxygen in the blood makes exercise easier and is healthy for the body. The average hemo of a sherpa is 24. You dont see them going to donate blood though because its not caused from PCV.
I go to medical training HRT courses on this all the time. I would be glad to share Dr. Rouzier's letter he sends to physicians about why patients do not need to donate a pint of blood when they have elevated hemoglobin from TRT if anyone would care to see his reasoning. He can obv explain it much more clearly than I.
Keep in mind we are talking TRT and not superphysological dosages here. I dont have the answer to what happens when your on 5g of gear and I wont speculate. I only want to provide evidence based info in the event I can help anyone out.