I doubt most women unless they were once very very overweight for long enough that the calves grew as a response; would ever actually have a need to reduce calf muscle. Once the fat and water retention are lowered, I think you will find that while it will still be the same amount of physical tissue most of what appears to be muscle will shrink noticeably.
Keep in mind men do not want stick legs and most of what we see in the media is not accurate.
But to the best of my knowledge.
If you are unable to reduce the muscle by the normal methods, overworking during dieting or catabolic state (running fasted) then the next simple option is to lose total body weight: the best way to build and maintain calf muscle is to apply constant moderate volume to it.
You can see a majority of calf hypertrophy from simple loading from everyday walking activities. This makes body weight the primary factor in how much stimulus will be applied per repetition.
I see more calf hypertrophy from supporting increased body weight+high daily activity, than any specific gym exercise.