Absolutely cut it now, let's say you're making box calls, cut the blanks just about 1/2" oversize, in length and width. Seal it on the ends, with some kind of protectant. Normally wood like cedar will dry pretty fast as it is softer, and more porous, if your blanks are 2" square and 8" long look for it to dry at least 6 months. As long as it is kept inside a dry and low humid area.