A 68-year-old man is diagnosed with localized prostate cancer (T2a, Gleason score 3+3=6) after a biopsy prompted by a PSA of 6 ng/mL and an abnormal digital rectal exam (DRE). He is otherwise healthy with no metastases on imaging. He asks about treatment options and their implications. What is the most appropriate initial management option for this patient with low-risk prostate cancer?