Yeah not a bad solution. You might need the DMSO for penetration as ethanol is the usual "penetration enhancer" we use and without that who knows how much a pure water solution will penetrate.
Keep in mind that cetirizine is functionally a "downstream" solution which only at best "mops up" or acts as a "barrier" against the damage induced by androgens.
If you really want to stop androgenic alopecia, it's much more ideal to block the androgens.
However, a combination of a good antihistamine with minoxidil could give surprising results in some men with not too aggressive loss.
Ie. Add 1-2% desloratadine to Kirkland minoxidil 5% and apply 2 mL twice daily.
I bet for some people that would be pretty adequate to at least slow, halt, or possibly even give some regrowth. I wouldn't count on it for me though of course. I'm more aggressive than that.