Based on current information, there are no available details or descriptions regarding the portrayal of LGBTQ+ characters or themes in the untitled Shah Rukh Khan multi-genre project. Therefore, an evaluation of its LGBTQ+ representation is not possible at this time.

Based on current information, "The Ba***ds of Bollywood" does not appear to include or portray transsexual characters or explore themes related to gender or sexual transformation. The narrative centers on an actor's career challenges and relationships within the Bollywood industry, with no documented presence of transsexual individuals or related storylines.

Based on the available information, there are no detailed descriptions or catalogs of combat scenes featuring female characters defeating male opponents in direct physical combat. The project details are limited, preventing a conclusive assessment of such portrayals.

Based on available information for the upcoming Shah Rukh Khan projects, including "King" (2025–), no characters have been identified whose on-screen gender differs from their original canonical or historical gender in source material.

The project is an original Bollywood series, not based on prior source material with established characters or defined races. Therefore, there is no baseline to determine a race swap.

Drawing from Shah Rukh Khan's personal life and public advocacy, Hinduism is presented within a framework of religious tolerance and secularism, promoting unity and respect across faiths. This indicates a likely positive and inclusive portrayal in the show.