If it was me, I would very definitely use the patch only for a month to get the full benefit of the oestrogen and to gauge how it works and whether it is the right dose. I would not want to take that much Utrogestan but that is partly because I am severely intolerant to all types of synthetic progestins. Why have your been prescribed so much? Are you trying to avoid periods (I wouldn't blame you) or is that just what the doctor prescribed?
I am also 54 and taking 2 pumps of oestrogel every day, 1 tiny bead of testosterone, 25mg DHEA tablet every day and 100mg of Utrogestan vaginally for 7 days every month. I can only speak for myself here but that is minimum amount of Utrogestan required to do the job and my latest womb scan, literally taken at the end of my last period, showed a lining of only 2mm so it must be enough. My oestrogen blood levels are sky high too and still it was enough although I think perhaps it proves Utrogestan is much more powerful when used vaginally.
I must stress that we are all different and not everyone will have the same reaction to Utrogestan as me but I thought some might find it interesting and food for thought. It's worth having regular scans to avoid taking too much progesterone.