The thing is if you are bleeding at the moment and then you go onto conti for reasons related to wellbeing rather than prioritising bleed pattern as the be all an end all, and you continue bleeding, you haven't lost anything. This is neither "unexplained" nor "postmenopausal bleeding" and should not be treated as such by an experienced provider.
Menstrual irregularity is a hallmark symptom of perimenopause, occurring in untreated women and those on hormone therapy alike.
In fact the group with the most problematic bleeding is typically those on sequential MHT, trying to synchronise it with an increasingly unpredictable natural cycle. These women often end up having their own period AND the withdrawal bleed.
Treatment should always be individualised and sometimes this means someone using continuous because it keeps them more stable eg with moods, migraine, endometriosis etc. Conversely there are postmenopausal women who fare better with sequential, perhaps because they don't tolerate the progestogen well and appreciate a break from it, accepting that this may involve having withdrawal bleeds and a marginally higher risk of hyperplasia (but more favourable breast and cardiometabolic outcomes).