Wasps' Nest

avoid. its when you come across one unexpectantly they seem to get you.
last year I bought  a spray can of wasp killer foam, worked very well.
you have to weigh up the pro's and con's your choice.

But unless it is a real problem, generally just avoid and let them get on with it.  They have their place in the nature of things too - and that is said by someone with a real allergic reaction to stings.  But if you ignore them and are sensible (not sugary drinks left out ...) they will ignore you and love to munch your pests!

You could hang a couple of wasp traps (you can Google how to make them for pennies) so if / when they do start to be a nuisance, which they almost certainly will as the colony dies out, you would at least have depopulated them slightly and therefore would have reduced your risk of being stung, however, I don't know where the nest is, but I have a lot of wasps around my plot at the moment, and particularly in my poly but mostly they are looking for small insects to eat, and so they really do help with pest management.