1. Laparoscopic surgery is better as recovery is faster. 2. It will not affect your sexual life in any ways. But a large bulge can at times be a hindrance in intercourse. It is better to deal with it right away. 3. You can exercise now but just remember that lifting heavy weights can at times lead to obstructed hernia. Post surgery you can return to gym in 3 weeks.
Next Steps
Consult a laparoscopic surgeon.
Health Tips
Beware of an obstructed hernia. The bulge does not reduce and intense pain with vomiting are its features. It's a surgical emergency then. It's best to get your hernia operated as soon as feasible.