Ultrasound showed in the right ovary a cyst 37x40 mm showing clear anechoic fluid content, could this be cancerous and should i do more investigations?

Cyst: No. It is not cancerous. This is a normal follicle. Follicles need to grow to release an egg during ovulation. This follicle or cyst will resolve on its own.

No follow up needed: Based on your description it is a simple cyst. Simple cyst in women of reproductive age measuring more than >3 cm and less than ≤5 cm in size are usually described in the ultrasound report with a statement that they are almost certainly benign; they do not need follow-up.