Can the word FAQ be considered offensive?
Solution 1:
Interesting Q! I've used 'the FAQ' for decades. I've always pronounced it out by the letters. "The F A Q", rarely by the words. The Frequently Asked Questions are sometimes useful, often not.
Occasionally, "Just read the FAQ" is indeed a way of telling someone that they haven't done their due diligence, especially in tech, similar to RTFM. "Read The Fine Manual"
For a first time reader, I could imagine some confusion, especially for a non-native speaker of English. English with its vast selection vowels is often an opportunity for four-letter humour.
All said, I tend to side with the comments already posted, in that the pronunciation of FAQ might not be the most pressing concern of most speakers.