One thing that could cause yellowing is water with pH that's too high or low. If you're not doing anything to adjust the pH of your water, MOST of the time it will eventually lead to deficiencies, but there are a lot of exceptions to that. However, in my experience the cotyledon will eventually yellow and fall off at a certain age, regardless of how the rest of the plant is doing. So it may not be an indication of what's going on in the soil at all. If it were me, I'd wait and see if the yellowing spreads to the real leaves. If it does, I would advise doing some pH adjustment if you're not already. If that doesn't take care of it then try adding a little nitrogen however you prefer to do that.
On an unrelated note, it looks like you might want to move your light closer to the plant. The amount of stretching it's done could mean that it's not getting enough light. It looks like you're using a blue and red LED. Read the manual before making any changes, but generally speaking, those lights are safe to put 18-24 inches above your plant. If it's a different kind of light, just do a little reading to find the optimum height and your plant will thank you for it ;)
I wish you all the best 😁