Would it be possible to start frozen embryo transfer with 3.4cm hemorrhagic cyst on one ovary and 3cm mature follicle on the other ovary?

Embryo transfer: If the "mature follicle" contains a viable egg, and the egg is removed successfully, and fertilized, that embryo can be either frozen and saved or transferred to your uterus. The "hemorrhagic cyst" is not relevant, and will not affect a possible transfer, but harvesting the egg from the "mature cyst" is necessary to create an embryo, prior to attempted transfer.