Based on my experience and everything I've learned since being over-treated for a benign ovarian cyst, I'd say just monitor this cyst for now via periodic ultrasounds. Most cysts are benign and resolve on their own although it's my understanding that dermoids do not. But yours doesn't sound like a dermoid cyst as that is one type that I believe they can usually see pretty clearly on u/s (due to the components e.g. hair, teeth). Ovarian cancer is extremely rare. If this cyst does grow and needs to be surgically removed, I'd search for a surgeon with good cystectomy (cyst removal) skills. I've read that doctors who do many cystectomies can almost always save the ovary or enough of it for normal hormone production. Trust me - you do not want to be without ovaries!
I don't understand why your doctor is recommending any treatment for your uterus. Eliminating the lining via burning or other procedure (general term ablation?) can cause problems in the long-term including an increased risk of hysterectomy due to post ablation syndrome which causes chronic pelvic pain. Fibroids are benign and typically do not need any intervention. Polyps are benign too and generally don't need to be treated unless they're causing heavy or irregular bleeding which typically only occurs if they are irritated by intercourse or are not removed properly (at the base). If they are problematic, a polypectomy would be the way to go.
My long-time gynecologist removed my uterus, ovaries and tubes for a benign ovarian cyst. "Surgical menopause" is a misnomer as it is nothing like natural menopause. The ovaries do not shut down at menopause. They produce hormones a woman's whole life especially testosterone that can be converted into estrogen as needed. Since the ovaries are part of the endocrine system, women without ovaries have a "short circuited" endocrine system that is unfixable and puts them at risk for many increased health problems such as heart disease (#1 killer of women), stroke, osteoporosis, hip fracture, lung cancer, colorectal cancer, impaired memory and cognition, dementia, parkinsonism, mood disorders, sexual dysfunction. One study showed that ovary removal does more harm than good in women as old as 75.
It's been 12 years since my surgery and I've connected with so many women who had parts unnecessarily removed and are now suffering the many after effects. 90+% of hysterectomies and oophorectomies are unnecessary. We even need our uterus for its anatomical and sexual functions. But it also has some endocrine functions aside from the ovaries as its removal is associated with a 3x increased risk of heart disease which appears to be due to a uterine substance as well as the uterus' connection with the ovaries.
I wish you the best in getting proper treatment.