Is a 4.7 x 7.4 x 5.3 ovarian cyst something to be worried about?

If the ovarian cyst is described as "complex", the usual treatment involves laparoscopy and biopsy. If the cyst is not "complex", you might ask your GYN physician about the use of oral bcp's, not necessarily for contraception, but to somewhat reduce the incidence of cyst formation.

It depends. The size itself is large enough to require monitoring but not large enough to require immediate intervention. Pertinent considerations are the appearance and character of the cyst, where you are in your cycle, whether anything has been previously seen. and any associated symptoms. Appropriate follow up could be rechecking in a couple of months, additional tests, or surgery.