Yes cycle it out. Now someone will soon come along and tell you about how they recycle desiccant packs by placing the in a oven on low heat. I don’t and don’t know much about it, but someone else on the thread might.
The feet of a pair of panty hose filled with dry white rice make good disiccant packs for inside ammo cans.
When you say yes cycle it out, I think you are referring to the dessicant? Thoughts on storing loaded mags individually in vacuum sealed bags instead of ammo cans so they take up less space and just be stored in the backpacks?