Seems to be one of those topics... but anyway this study from 2009 found that creatine did in fact increased DHT.

https://pubmed.ncbi.nlm.nih.gov/19741313/

To be clear, no one is arguing that Creatine causes hairloss, simply that it exacerbates hairloss in people with so called androgenetic alopecia.

I recall a study that was set to try and replicate these results, but I worry that it was impacted by COVID. If anyone else can find it, I'd be very interested to see it.