I would ask for a lipid profile and see if it is the LDL, HDL or triglycerides that are not within normal range before you decide. An overall cholesterol score does not give much information.
This is extremely important to bear in mind. I've had this conversation with my hospital clinic and they get so frustrated as the blood labs always just do the whole figure. Even they say it's largely useless giving a single figure.
As for the OP, 4.5 isn't high, over 5 is, so I don't really know why you're worrying about statins at all.
Finally...one thing that hasn't been raised here is the issue of diet to cholesterol. There does seem to be an underlying assumption that if you have diabetes, your cholesterol will go up, no matter what you do.
The problem is, the advice given to people with diabetes is likely to raise overall cholesterol levels.
People with diabetes are advised to eat less fat and more carbohydrate. The problem is, fat doesn't impact on cholesterol levels as much as carbs. A high carb diet is known to increase triglyceride levels, because trigs go up when serum insulin levels go up - which in turn raise overall cholesterol levels, particularly the 'bad' cholesterol.
In other words, the diet recommended to people with diabetes is probably the reason why people with diabetes seem to have higher cholesterol levels, rather than it being simply because they have diabetes.
I've also raised this point elsewhere but I think we need to be extremely sceptical about statins being recommended across the board for diabetes. The largest campaigner for diabetes treatment recommendations is Diabetes UK. Diabetes UK is sponsored by Pfizer, the world's largest statin manufacturer, and Diabetes UK explicitly states that its corporate partnerships are to help further the interest of its corporate sponsors, not people with diabetes.
Let me be clear; I am not accusing anyone of intentionally misleading or interfering with advice. I am saying we should be asking the question over whether the advice we are given is at risk of being influenced by those who are motivated by something other than our best interests.