hyuna and luka both exhibit some androgyny, which is especially interesting as they are the m/f couple of the series. you'd normally expect them to more rigorously follow gender roles than the m/m and f/f pairs, but mizisua and ivantill are almost exclusively feminine and masculine respectively. alnst subverts this expectation, though not without still commenting on the power dynamic inherent to heterosexual relationships.
note: they are specifically not gnc. they still conform. both of them are within acceptable range of presentation for their gender. I would argue no characters are gnc since they do not have the autonomy for it.
besides the obvious visuals, their androgyny is defined by:
luka's infantilisation. he is the 'prince' of the stage, emasculated, and his image is crafted to look powerless to segyein yet lording over other humans. he is feminine, in the way femininity is equated to weakness. he is passive, seemingly fragile, and a tool to his father's ends.
hyuna's forced maturity. she is described as an "old man" character for her capacity to be cold and serious when it comes down to it. she must be masculine, in the way masculinity is strength and power. without anyone else to stand for her, she has to stand for herself, then others as well. it is her independence, to her detriment.
this is also reflected in their segyein guardians. phan is the absent father archetype, despite (possibly) being female, and heperu's vicarious abuse is most reminiscent of how mothers can become enmeshed with their children. these are typical roles due to gender stereotyping: men as emotionless and women as emotional.
all this does not mean that luka (or even hyuna) does not express misogyny. luka clearly does, especially over hyuna, and there is a conversation to be had about how hyuna treats mizi. there is still a power imbalance between genders that can't be resolved easily, and alnst does not shy away from showcasing it within hyuluka's relationship.
as alluded to, this gender presentation mainly comments on maturity surrounding oppressive standards of masculinity and femininity. it highlights hierarchies of power: power/powerless is mature/immature, adult/child, man/girl. it is no coincidence that luka's presentation is forced onto him (femininity as oppression) and hyuna's presentation is a demonstration of her autonomy (masculinity as liberation).
within themselves, hyuluka demonstrate a capacity for both the masculine and feminine, following their main theme of weakness. despite a powerful exterior, neither of them are truly fully in control, their one weakness defined by one another.