Does that include trt where levels are kept at normal range?
Depends on some of the other elements, multi factoral as always
Some of the other aspects to consider, rbc, hematocrit, thickened blood, lack of aerobic cardiovascular exercise, bodyweight, bp, renal function, etc
to answer your question: yes it can definitely happen on TRT-only (physiologic T levels or slightly above T levels) provided some conditions are there.
it can happen in a natural user as well
but supraphysiologic levels of T will always favor it rather than the opposite.