Illegal kick

[McMac]

I know per 9-7-1 that an illegal kick is a 15 yard penalty penalized from the basic spot.

Situation: 4th down (don't remember distance) at A 30, snap goes over punter's head and travels down to inside the 5 (center really got a lot on it), definitely in the Field of Play , when the punter illegally kicks it out of the end zone. R throws flag for illegal kick, but doesn't B (not R, since there was no legal kick) have options here that should be discussed with them?

In my head, option A) decline the penalty, take the safety. Option B) take the penalty, half the distance to the goal, replay 4th down. The WH never spoke with a B captain about this. Is this because it is assumed that they will decline the penalty and take the points or should the WH discuss the options with them?

If I am totally wrong, just tell me so I know better for when I am working my games.