Hangman Game with Python
You are improving, that's nice.
Since the project is quite minimal, I would just highlight few points for consideration.
Misleading variable names
words and out are misleading, what does out mean, your variables should explain themselves clearly and be as unambiguous as possible, words gives the intent of holding multiple words but actually, it holds just a word.
You might not need it
wrong list is totally unnecessary here, you might have implemented it for future purposes but right now, it isn't really used, define only what you are currently using. So it means guess in wrong is an irrelevant check
guessed happens to append only correct guesses, that's misleading, you might want to make it append both correct and wrong guess and it makes the variable wrong even more irrelevant.