For the clearance described by the red arrow, believe you me, ATC expects you to make a maneuver exactly mimicking a parallel entry to the published LCA hold as depicted on the plate and thereafter proceed outbound on LCA R053 on returning to the VOR and continue with the teardrop/base turn Instrument Approach. Here's the official word on this (thanks ICAO, Jepp), as we all understand a pilot's trepidation at performing such a complex maneuver without much by way of a clearance. An appropriate R/T call "approaching overhead LCA, proceeding to turn left HDG 221" should do the trick. For extra safety, add "as per procedure". If this sounds too iffy, have agreement with ATC earlier.
As long as from the 1st passage of LCA, IAS < 210 and Altitude at or above 4000ft and the published holding inbound course is followed you are in the protected area of the published hold. There is no overt need for turn-anticipation, though it would be nice, and you can turn left to 221deg immediately on arriving overhead LCA.
Your 2nd option can work too if ATC is agreeable. I know it was legal and there was a published procedure in Australia to make a course alteration to facilitate a passage direct outbound for approach, it didn't require ATC "permission" as long as you were within the LSALT 25 mile circle and above LSALT. Can't imagine the busy airports of today allowing this except at times of very low traffic. In the airline cockpit it would require good anticipation of turns and proper orientation, and a suitable brief, an art that is slowly being lost.
Concepts discussed in the role of enthusiasts and answers given in good faith. They are not meant for any sort of implementation. Please consult current and officially provided documentation before operational use of any of the concepts discussed.
(write ups and diagrams courtesy ICAO/Jeppessen)