Cyberpunk 2077 has a few romantic arcs for players to explore in the game. Based on the players' choices, these romantic arcs can potentially end up in a long-term relationship.
Romantic arcs are available for people of all sexualities. Cyberpunk 2077 is probably one of the few games that cater to the LGBTQ community.
Can players romance Panam as Female "V" in Cyberpunk 2077?
Panam is a character who takes an interest in male "V." So players, who play as female V in Cyberpunk 2077, cannot take a romantic interest in Panam.
However, there's another romantic arc for female V to explore with Judy. Players come across Judy in the early stages of the game. She appears in "The Heist" mission in Act 1. She plays a more pivotal role in Act 2 after completing the "Transmission" mission.
Judy isn't the only character interested in female V. Meredith Stout, a millitech agent, can also play a love interest in female V's story, but there isn't any potential for a long-term relationship with her, unlike Judy. It's just a short fling with her.
Meredith can easily go unnoticed to begin with. Players come across Meredith for the first time in the "The Pickup" mission, however, meeting her is optional. If players want to engage with Meredith romantically, meeting her is obviously mandatory.
Technically, Rogue could still make it to this list, but players don't really form a bond with Rogue as V. It's Johnny Silverhand who takes control of V, momentarily, when spending time with Rogue.
So when it comes down to the romantic arcs in Cyberpunk 2077, Judy and Meredith are the two prominent NPCs in the game that female characters can get involved with. The options are limited, but it's a good sign that game developers are gradually allowing for inclusivity of genders and sexuality that were once seen as taboo.