I recommend UTF. Mag1 makes a 2.5gallon jug for $25 at Lowe's, and Walmart sells Supertech UTF at $25 for a 2-gallon jug. Designed for wet clutch, and meets GL-4. This is what my friends and I run in our bike transmissions (Dirt bikes, HDs, and GSs).
It depends on the bike. Air cooled 2-strokes with small engine cases transmissionfer a lot of heat from the cylinder to the gears.
It will probably get away with thinner oil for a few oil changes at 2K-3K, but unknown how long.
I have a bottle of Pro Honda HP transmission 80W/85W (never seen this designation before) which looks as watery as an ATF. I haven't used yet. On the botle says it's for CR, CRF, and TRX Hondas. It's made in the USA.
I hope I can use it in my '74 Honda MT125 or another vintage 2-stroke.