That is both true and technically false.
Hormones are actually a general part of medicine in general, so psychiatrists can prescribe hormones for various health issues. Indeed they’re used for various health issues in cis gendered people, including children. Have been for decades.
Interestingly the medical community is asking whether or not phsyhiatrists should be included in the professionals who currently prescribe hormones or more specifically gender affirming care. The studies I’ve seen all seem to favour this inclusion, arguing that since a psychiatrist would be able to diagnose such situations with high competency, them being able to give such prescriptions would not only be safe, it would also make such care much easier to access. Which is considered a net benefit