In vanilla Oblivion, most armor sets use the same model for both male and female characters, though with minor size or fit adjustments. However, modded versions (like the one you’re showing) — especially ones labeled “Peemastered” or part of fanservice mods — often feature drastically different models for male and female characters. Your image clearly shows a unique, stylized (and minimal) female mesh that is not shared by males.

So the answer is:

Different. The Huntsman set has a separate female model in Oblivion Peemastered.