After the age of 37 years, fertility
declines rapidly. So you should go for treatment with high chance of conception. If your tubes are fine, you can go for superovulation
with IUI, which is less costly & gives decent pregnancy
rates of around 15-20% per cycle if everything is fine. Regarding cyst in ovary, if it is simple clear cyst & diagnosed recently, you can wait for 1-2 months for spontaneous resolution. If the cyst is endometriotic OR if its persistent since last 2-3 months, you can go for its removal through laparoscopy
Wish you good health.