One way to eliminate cutting or at least keep it to a minimum would be to remove the entire piece above the window flash the window and then replace the siding.
Cutting cement board siding.
For a slow but virtually dustless way to cut siding use power.
These are specialized to reduce the dust caused from cutting these planks.
Use a specialized blade used with the saw such as mikita hardiblade or dewalts filber cement blade.
To keep dust to a minimum use a circular saw that s equipped with either a dust collection bag or electric fan that.
If any cutting needs to be done to allow for the added flashing than it can be done on the workbench with a pair of siding shears zero dust.
Use your eyeware and ear protection.
The advantage of using the circular saw is that you can cut more than one board at a time.
The cleanest way to cut fiber cement siding is by using siding shears.
Typically siding shears use air pressure to power them and they shear or cut the siding like a pair of scissors.