Through my first cycle where I did var only, it didn't change my voice whatsoever.
When I ran my second cycle, I stacked mast and var and my voice has definitely dropped and my vocal chords are a lot thicker. Fortunately I've always had a low, raspy voice so it's not crazy noticeable.
But I used to sing a few years ago (years of choir and musical theater) and unfortunately, it's something I don't think I can ever get back to because of the vocal change. I used to be able to use head voice so easily and hit higher notes, but now those notes won't even come out of my throat.