I have had a recent problem with a Medial ligament strain, and found braces/supports too much, I used KT tape, which is a cotton adhesive tape, applied to the front and side of the knee. There are “how to” videos on youtube, as the placing of the tape is critical, but I found it the best solution for me. It gives gentle support without pressure/restriction/chafing/rubbing etc
My advice is don’t rush to get back on the bike too quickly. I got back to cycling quite soon as it seemed walking/climbing stairs was painful, but cycling was fine, however with hindsight, it never really healed properly and came back with a vengance when I started to do hill intervals resulting in 3 months off at the peak of the race season.
I found the key to be active rest with stretches, exercises and massage, its very difficult to stretch the ligament, but massaging or pressure with the thumb on the side of the knee directly on the area of the ligament was what finally sorted mine out.
good luck and be patient !!!!!