The conversation about HRT and cancer is nuanced. There are some studies that suggest a slight increased risk of breast cancer, but other studies dispute this. There is likely a decreased risk of uterine cancer and likely also a decreased risk of colon cancer.
Overall life expectancy is thought to be higher for women that start HRT before age 60 than for those who don't take it at all. Quality of life is also generally improved for women on hormone replacement therapy.