I'm always going to be influenced by my own experiences here, but for me anything to do with cortisol surges at night or insomnia or early waking, has been due to estrogen - too much of it. Other people here have found it to be just not the right dose or type of it, for them, causing this.
I am perhaps a very unusual case as I've had severe high blood pressure caused (we think) by a reaction to estrogen. But along with that came anxiety, early waking, heart palpitations and more. It all got worse when estrogen increased and better when it decreased.
I suspect there are many more women with reactions to estrogen out there, but they just aren't getting recognised by doctors for some reason. They are being prescribed meds to deal, piecemeal, with the symptoms - like your propranolol - instead of trying to work out the root cause.
With your migraines, that would seem to be simpler - as it seems to correlate with when you take your utrogestan. Have you tried taking it vaginally instead of orally? You might not absorb it systemically then. The other option is to try going to a continuous regime, which would see you take utrogestan every day - but only 100mg of it.