sporting lady vs adult female

sporting lady and adult female both are nouns.

Word	Noun	Adjective	Verb	Adverb
sporting lady	Yes	No	No	No
adult female	Yes	No	No	No

As nouns, adult female is a hypernym of sporting lady; that is, adult female is a word with a broader meaning than sporting lady:

Other hypernyms of sporting lady include woman.

sporting lady (noun)	adult female (noun)
a woman who engages in sexual intercourse for money	an adult female person (as opposed to a man)