I'd rather not see it happen, especially this late in the game's development. The sheer amount of text and voice acting that would need to be adjusted to account for such a thing would be a very expensive undertaking - and it would feel very strange and immersion breaking if every NPC - even one's enemies - began referring to every player character as their preferred pronoun even if they had not yet met the individual in question.

As a gay guy, I don't need a character that I play in a game to be gay or even male in order to identify or sympathise with them. I think if people try really hard, they might be able play a character that isn't an exact replica of themselves too. In my opinion someone doesn't need to be a woman to play as Lara Croft in the Tomb Raider games nor do they need to be a man to play as Noctis in Final Fantasy XV. As such, I think the current system in FFXIV is fine.