Will the Lump on my Actual Lip Go Away in Time? (photo)

Dear Doctor/s three weeks ago I had an accident mountain biking. I broke my nose and took some flesh away from just under my right nostril and split/lost some skin along my top lip. Having the scar above my lip I can live with but can anything be done about the raised "cold sore like" lump which has formed below the stitch line on my upper lip or will it go on it's own when my stitches fully desolve inside please help I'm best man for my brothers wedding at the end of September . Using bio oil