several choices
GaryG in MD
I, too, don't like to put on a finish that yellows wood or darkens it with time.
But you should be aware that cherry is a wood that naturally darkens with time, regardless of the finish.
In general, you have to understand that oils penetrate and other finishes sit on the top of the wood. All products will darken the wood to a certain extent -- just as it will darken if you put a drop of water on it. Some oils darken wood a lot more than others. I've had good luck with 100% pure tung oil -- NOT so-called "tung oil finishes" which are usually everything BUT tung oil.
Clear surface finishes that don't yellow with age are things like lacquer and water-based poly. You have to do your research on the latter, however, because some of them lend a really nasty bluish color. I avoid them for that reason.
The other possibility is the matte spray acrylic used for things like sealing drawings. I've used it on wood to good effect. After a couple coats, you can rub it out with something like Abralon to 4k and get a nice sheen.
Given your bug holes, I would not use steel wool. But I'm biassed anyway -- I hate it and never use it for anything. I prefer Abralon or so-called "non-woven" pads.