I set up a slur filter first thing when I made r/antifastonetoss -- but I left reddit last year, so I don't know how the discourse progressed after that. But the mod team on AST is composed of various ideologies and marginalised people which was instrumental in setting up a slur filter without seeming like we dictated our vision too much on the community.
We made it to foster a safe environment where people can feel welcome to, and so they feel they have the right to participate. Ultimately it needed some tweaking, because the community used some words a lot and their status as a slur was not entirely clear yet. IIRC we only ended up removing the words id.ot and st.pid from the filter. Overall, it worked well. It did remove a lot of bad actors straight up (fascists and reactionaries who wanted to argue), with very few false-positives.
Even in the case of words that could be used in several ways (homophones mostly), we basically knew how many instances of false-positives and true-positives there was and could decide to filter them on a case-by-case basis. Of course if you want to deploy this to a whole project and its future instances, it's a different question.
It's a dialogue between your users and your vision. I firmly believe you get the community you deserve, meaning that your actions as a community manager (or moderator or admin whatever) will shape your community. We removed the words mentioned above because it was causing a lot of frustration and we never had someone write us to say "hey I'm glad you filter these two specific words". Or even after removing them, we never had someone say "I prefered when they were filtered because I feel targeted". Lacking a proper audit of our community, this was our way to gauge . So in the end it removed some frustration and the users were overall happier that they could use these two words, even if I personally believe there are other words that work just as well. We felt we were driving people away and it was counterproductive to keep them in when it was having 0 noticeable benefits. Of course this doesn't work for every word lol. I'm reminded of the "t-word" debate on animemes and in this case I think they were right to ban it.
Yes, some words have been reclaimed. And not everyone considers the same words to be slurs. What we did was err on the side of caution, and figure that words that have been reclaimed were allowed because there was only a very small chance of someone using it disparagingly -- and if they did they would usually be mocked in the comments. Of course though this applied to a subreddit where a) we live with fascists on the whole site (one of the reasons I left reddit altogether) and b) our community was already mostly aware of these issues and knew not to push the buttons. We could also trust them to push back against people using these words as slurs, as did the mod team.
As for words that some didn't consider a slur when it applied to them, we kept them in if the status was unclear. Because while some people didn't think it was a slur and laughed about the word, others did consider it a slur, and we took the stance of doing more good than harm which was to ban the word.
We also allowed people to censor the words with some characters (asterisks aren't ideal because markdown uses them), YMMV. We figured that in most cases a censor would be enough not to trigger anything but we'd see if someone would mail us to say censors are not enough for them. Ultimately nobody did, so we kept it like this because
There's also one other very important benefit to a slur filter: not only does it frustrate fascists so much that they just stop writing (and their comments are not seen, that's a win-win), but the filter also helps keep conversations level-headed. I don't want to be a lib and worship peace, but in our project it was important that people could get along and focus their anger at stonetoss, not at each other. If your comment gets removed because you didn't think and used a slur, it would get removed, and you'd get a private message telling you which word you used and to please censor it or delete it. That also gave them time to think about what they really wanted to say, because often you realize after writing your comment that you don't really care all that much and what is even the point of sending it?
People circumventing the filter was never an issue, except to fascists who would get banned for other reasons. We did take a no-nonsense policy on this and flat out said in the private mail that circumventing the filter on purpose will result in a permanent ban. Most of the time if there was any issue, it was people not understanding how some word was a slur, but after explaining it they usually understood. That's why people -- in this particular community at least -- didn't circumvent the filter; they understood to some extent that the word wasn't a good one to use. And really it's easier to put in an asterisk or period than to try and make it go through.
But I wanted a slur filter day one on antifastonetoss to make people understand what kind of community we wanted. We didn't want the edgy teens, we didn't want the cryptofash, we didn't even want the libs. We wanted leftist people who wanted to really hurt a fascist and could remain respectful between themselves. We wanted people who had some amount of knowledge about these issues in the first place because again, you get the community you build. Of course we had no issues with newcomers and understood that some people had no idea about fascism (which is why I wrote some articles for the subreddit) or that they may not understand why we had a filter, and we were prepared to explain that with the help of the more knowledgeable part of the community.