I really don’t see any reason for it to be a watched word.
It’s not a bad word, and it has multiple meanings.
If it’s blocked because qu eer could be another way of saying [email protected], then it really shouldn’t be a watched word, because that just seems homophobic.
Moreover, it would make even less sense for it to be a watched word if being used in a way that doesn’t apply to homosexuality.
ᴾˡᵉᵃˢᵉ ᵈᵒⁿ’ᵗ ˢᵘˢᵖᵉⁿᵈ ᵐᵉ ᶠᵒʳ ᵗʰᶦˢ