Depends on what you mean by polite company, I think. I'm sure there are a lot of conversations among men, who are polite to each other, talking about women being on their periods or hysterical or whatever. Is that no longer the norm? My friend group doesn't do it but given the rhetoric we've seen on HN and elsewhere "locker room talk" is still a thing.
I don't think you'd need to be similarly selective about the phrase "toxic masculinity" at least on average. Hopefully you see the point I'm trying to make?
Of course it's also possible that I live in a slightly different bubble than you do.