It depends what symptoms you're trying to treat - cbd is more about mood, so if that's the only issue, it might be worth a try. Anything more than that, or if it's more rage than mood, cbd probably won't do much.
'Bio-identical' is just a marketing term, as is the idea of 'synthetic' vs 'natural' hormones - I don't think there are any medical products which contain mares' urine or whatever used to be used, so technically it's all made in a lab.
It's really worth reading Menopause Manifesto by Dr Jen Gunter, as she's a feminist gynaecologist and her take on all of this is really interesting and she's particularly good on explaining the medical evidence of not just licensed medication, but also things like cbd, evening primrose oil, yoga etc.