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Yes, menopause can cause a creepy crawly feeling on skin. Get complete hormone panel-FSH, LH, estrogen and progesterone. Hormone replacement therapy helps overcome this sensation. If this is predominantly in legs then it can be restless leg syndrome.
It is also seen in people who are very anxious and stressed out. Take up yoga, deep breathing exercise, walking etc to relieve stress. Music and aerobics are also good stress busters. Drink plenty of fluids and water (not caffeine), eat fresh fruits and vegetables and keep yourself busy throughout the day.
Very dry skin and disorders of thyroid gland all can precipitate a crawling sensation.
The other possibility is Morgellons disease often mimics scabies. The disease is believed to be caused by weak immune systems in people that have contracted the tick-borne Lyme Disease at some point in their life. It can also be a fungal infection like Tinea corporis.
Please consult your PCP for primary examination followed by proper referral.
Hope this helps. Take care!