E2, Dietary Fat, and Aromatase

Ok this is random, but I was thinking today about how E2 levels are influenced by aromatase activity. We know that aromatase happens in fat tissue, but my question is this.

Does this have to be already stored fat in the body (visceral and subq fat tissue) or could it happen in fat tissues in the process of digestion as well? I’m wondering if someone who eats a lot of fat in their normal diet, say like someone who does keto, could possibly be aromatasing more due to the constant intake of fat even though they aren’t storing as much of it?