Surely that is dependant on what the lady presents with?  If she complains of depression/anxiety then a GP will treat appropriately.
For me, my pre-menstrual depression is totally different to the organic depression that hit me, requiring treatment.  ......... I also have a genetic pre-disposition to depression so it was essential that those symptoms were sorted.  B4 each bleed: even if a period wasn't due: I would weep for hours ....... sure as eggs is eggs, the bleed would start in the early hours.  Organic depression however wasn't related to my cycle at all.  I think because I was already on ADs by the time peri arrived, I got away with those symptoms.  
It can be that HRT might not help, so many weeks may be lost with the patient becoming more and more depressed.  Which is why it is so difficult to decide which might suit who at any point.  I was menopausal but didn't require HRT other than for VA  

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I wonder whether there have been any discussions with ladies after they get through menopause and are clearer of mind, exactly which was more appropriate for them.