Treatment of choice of stage III CIN in 40-year-old female is:
As discussed in preceding text - management options in CIN are

Ablative techniques like cryosurgery, laser vaporization therapy
Excisional methods - like LEEP (Loop electro excisional procedure) or LLETZ
	(large loop excision of transformation zone), condition surgery
Hysterectomy

In general, the major drawback of ablative procedures is - it destroys the tissue and so no tissue specimen is available for additional histologic evaluation during follow-up.
Cryotherapy: 

It should be considered only if. There is a minor degree of CIN localized and it is

"This method is ideal for minor degrees and localized CIN"  - Dutta 6th /ed p 327

Thus in this patient - cryotherapy will not be done as she has CIN III

Laser ablation: 

Rarely used in practice. Used only if CIN extends to vaginal fornices.

Remember

Most early CIN is now managed expectantly so the need for ablation is decreasing."

Hysterectomy: 

As far as hysterectomy is concerned - it is taken as too radical a procedure for management of CIN and is reserved for special circumstances like recurring CIN -
Recent management says whether the patient is young or old -CIN111 should be managed by LEEP/LLETZ.
Hysterectomy
Laser coagulation
Cryocoagulation
Cone excision