Subaru P0420 code questions

Hey guys, I got hit with the infamous P0420 code on my 2009 Subaru forester(165k miles). I’ve done a fair bit of reading and saw it can be all sorts of junk. I am just looking for confirmation that I’ll be okay if I delete the code and wait to see if it pops up again before I do any work on it myself or take it in to a shop.

From what I can tell it’s most likely a bad O2 sensor, a leaking exhaust or a bad cat.

I’m rather short on cash and don’t want to spend too much time crawling under my car in the cold so I wanted double check before I delete the code and wait or panic replace my catalytic converter.