The old conclusion "To each his own" seems to fit.
Yes.
I have helped select guns for females shooters quite a few times over the decades. I always advise the boyfriends/husbands to stay quiet and allow the girlfriends/wives to shoot various 380Auto/9mm/40S&W/45ACP pistols in peace and let them pick the pistol they feel most comfortable and be able to shoot fastest most accurate.
To our surprise, many of them shot 40S&W and 45ACP (Particularly 1911s) well and ended up choosing them.
And I have noticed, vast majority of them end up shooting Glocks faster and more accurate than other pistols. When my state agency office female workers wanted to be armed because federal judge released a bunch of inmates from prisons due to "overcrowding" and crime rate shot up, most of them chose 45ACP as their caliber of choice (I took all of them to the range and had them shoot different caliber pistols) and rest chose 40S&W. Yup, none of them chose 9mm.
My sister is 5' 5" with smaller hands and after shooting various 9/40/45 pistols, she chose M&P40 as she felt most comfortable and she was very accurate with it to the point she shoots matches with it. My wife shot all of my 9mm/40S&W/45ACP pistols and comfortably shoots 40S&W/45ACP pistols as well as 9mm pistols. Her favorites? M&P45 and Glock 22.
Last year, 20s neighborhood couple showed up at the local shooting spot and boyfriend wanted to get his girlfriend (who never shot before) a carry pistol because her workplace got robbed at gunpoint along with other businesses. After she shot various 9mm/40S&W/45ACP pistols we had, she ended up shooting my Glock 23 with factory ammo the best. Her boyfriend and I were surprised as we both thought she would do well with a 9mm. After repeat shooting different pistols, she said, "I like this one the best". I taught both of them defensive point shooting (took over 4 hours that day) and she was producing fast tight groups at multiple targets at 7-10 yards using Glock 23 and factory ammo. After several hundred rounds, she never complained about the "snappy" felt recoil several days later when we did a follow up training session. (BTW, when some Glock owners who never replace their recoil spring assembly complain about snappy recoil, I hand them my spare new RSA I keep in my range bag and their complaint disappear afterwards
Same for 1911 shooters with noticeable reduction in muzzle climb
I like Wilson Combat 18.5 lb spring for factory JHP loads)
So yes, I would say 40S&W is still very relevant, even for female shooters.