I've always felt labels such as "female-led", "female-owned", "<insert minority-led>" do the opposite of what they intend to do. That is, they paint a picture that this minority group is not capable enough and need a lot of hand holding so everyone please bias your decisions towards their success to the detriment of other groups.
If that's not enough, currently there are few repercussions for false sexism/racism accusations. I've seen some men lose their career even though the accusations turned out to be a coordinated revenge and were false.
All these together makes dealing with a minority group a lot risky and potentially a headache.
I believe the solution is to keep existing anti discriminatory laws but also ensure false accusations are sufficiently punished/disincentivesed