What you are describing here seems to be a hypertropic scar (excess healing response) for which your doctor has injected a steroid
) in the same.
It is a accepted practice to inject steroid in such a situation. These are good medicines but they take some time to act. As you have said it is less raised now. Thats a good thing. Give it some time to heal.
Also I would ask you not to use a bleaching agent as it might cause allergies. Plus they tend to irritate the skin, so redness
Hope you have a good cosmetic recovery with the full effect of the injection setting in.