Paddy, short for Patrick, has been used as a racially charged term for Irish people.
So, while it may be inaccurate to say he is homosexual, it is correct to say that he is a racist term.
I hate this calling accurate insulting words “slurs”.
For instance, tranny is a derogatory term for transvestite, transsexual, transgender, anything with the prefix of “transition”.
When one calls a transvestite a tranny, it may be insulting, but it is not a slur on their character, it is an accurate description.