HI OP. Have a look at the RCOG guideline for labour at term for older mothers.
Obstetricians are very risk averse and will always try to induce at term for older mums, however it's your body, your baby and your choice. The research behind it is pretty poor quality, TBH, but that's not going to change as it's unethical to carry out research on pregnanct women these days.
Have a think about whatyou'd be prepared to do induction-wise. You could ask your consultant to agree to sweeps from 39 weeks onwards, you could agree to go in for daily monitoring from 40 weeks. But ulimately, monitoring is a snapshot in time, and just tells you that your baby is ok at that minute, and it might change the moment they take the monitor off.
I'm a midwife, and I've supported women over 40 to decline induction - up to term plus 17 days was the longest. As long as they are fully informed and making their own decision, then it's fine. Almost all of the obstetricians I've worked with have been respectful of the women's wishes.
Do your research - the RCOG guidelines are useful, as are NICE guidelines, and you can ask about hospital protocols too. Ask your midwife to advocate for you, and be if you want to decline an intervention, you absolutely can.