I lost an ovary in my 20s. Your ovaries continue to make smaller amounts of hormones after menopause. If you have a full hysterectomy you'll feel the effects of the hormone loss. I wouldn't do it.
I wouldn't even have the one ovary with the cyst on it removed if they could possibly just remove the cyst itself! I'm 53 and post-menopausal, and had a large complex cyst on my left ovary 7 weeks ago. It had basically "killed" my ovary so they had to remove that one. I had told my gyno to go ahead and remove the right one as well, just so I wouldn't have to go through this again, but after doing a bunch of research (and talking to my primary care doc), I found out that we need to keep as much of our female parts as we can!!!!!! So I kept my right one. Even after menopause, your ovaries are still producing much-needed hormones. Check out "old before my time" - she had a terrible experience with basically being forced into having a total hysterectomy before menopause and she so regrets it. I'm sure she'll probably weigh in soon with her experience; if not - she's listed under "Top Women's Health Answers" on the right side of the screen - send her a message and she'll tell you all about it.
Thanks DMSing. By all means, Mya, you do NOT want to have any of your sex organs / "reproductive" parts removed (absent cancer of course).
What type of cyst do they think it is? 4.5cm is still on the small size and may very well resolve on its own as most do. I have to wonder if it's a different cyst from the one you had in February 2017 since ovarian cysts are common and usually come and go.
Although women's sex organs are treated as disposable, they have lifelong functions and they all work together. So removal of one (an ovary, the uterus, even tubes) has been shown to cause permanent harm.
The uterus has anatomical / organ, anatomical / skeletal, sexual and hormonal functions. That is why its removal is associated with bladder and bowel problems especially in the long-term. The uterine ligaments are the pelvis' support structures keeping the spine, hips and rib cage where they belong. That's why hysterectomized women have shortened, thickened midsections and no curve in their lower backs. This not only destroys our figures but also leads to chronic back, hip and leg pain. The uterus plays a key role in sexual desire and response. And it works along with the ovaries to produce hormones which are the "essence" of life and being as well as health powerhouses for all organs and tissues. Numerous studies show that removal of one or both ovaries does more harm than good when done for benign conditions. One study showed that removal of both ovaries even at the age of 75 was associated with earlier mortality.
This website is a good resource about ovarian cysts and how skilled surgeons can do cystectomies that preserve the ovary (if you end up needing surgery) - http://ovaryresearch.com/ovarian_cysts.htm. This "Ovaries for Life" website is a good resource for the importance of our ovaries and the overuse of their removal - http://www.overy.org/. It links to a lengthy list of medical study (and other) citations. The HERS Foundation is a good resource for understanding the many adverse effects of hysterectomy.
I hope this helps! Please keep us posted on what you find out at your appointment.