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I agree I don' cut a single scrap until I know the project I will be making.
I'd leave it until I knew which project I was going to use it for.
I wouldn't cut it if it were me. That's big enough to use in another project.
I always trim my scarps to the closest size, square, strip , ect but something like this I put in a LG scrap basket. I have several of these baskets and my lg scraps are sorted by color, you never know when you will need an odd shaped cut for something.
I make mostly planned scrappies and would never cut or trim a scrap until it gets small enough to only cut a 2 1/2 in square or a HST.
I tend to leave scraps in large pieces if around 1/8 yd or more and fold them into my FQ pile. The smaller stuff gets cut down to the largest usable sizes and bagged. When I get too much that I can't use, I donate the cut sizes to our community quilt program so they get used.