When I first started lifting seriously, I was 5'11" 200. I decided to cut immediately, so I did tons of cardio while lifting hard. I got to 180, wasn't happy with size or the fat loss that was visible. It can be a mindfuck. I wound up spinning my wheels for almost an entire academic year (Sept-March) because I couldn't decide what to do next. It was nice from a body recomp standpoint, but I was really making no progress towards anything.
What I would emphasize is picking one and going for it. A cut-rest-bulk-rest-cut cycle, for example. Starting setting goals, and making them short term (a couple months). It will give you goals to work towards so that you can stop the feeling that you're simply treading water.
When you feel like you're not making progress towards a goal, motivation can quickly disappear, and that's what you need to avoid more than anything else.