It's the Steel Plate (I forget the exact name) Armour that has a boob variant. The others (bar Dwarven) are slightly different for female characters, but not significantly so. As for the fur armours? Well, they're probably equally revealing, I think. It isn't quite a solid rule (I think the Vampire robes in Dawnguard show more skin for women), but Skyrim gets it fairly right. Or is at least a major step forward.
But again, I can easily just counter your point and say if an NPC is important, there are other ways to make their placement significant or to make them stand out. Put them in a prominent position (e.g. that guard talking to a group on Lanilor Lane), name them or do something else. It doesn't have to mean they wear more fitting armour.
As for Div 2's treatment of women? Pretty good, in that I think it's a parody of stereotypes and tropes for the most part, but it did have moments where the jokes/attitude just didn't quite work. Not many, though.
