Are you on cycle or not?
If natty aim for a minimum of 1g/lb BW protein and minimum .3-.4g/lb BW dietary fat. Remainder of your calories can come from any macro or any combination of macros. These numbers are minimums and you can go over them if you wish. The most important part is to create a deficit. Whether its from eating less calories or doing cardio to burn more the result is pretty evenly matched UNLESS your maintenance is so low that its near starvation mode in which case I'd opt first to build more lbm with a bulk to increase TDEE but failing that to eat slightly above maintenance and use cardio to create a deficit. Also for a natty aim for 10-20% deficit (10being mild and 20% being aggressive).
Weight training is crucial here as it, along with adequate macros, will help preserve lbm while the deficit burns the fat. HIIT can be useful to save time while burning calories but SS cardio isn't any worse. Difference is with HIIT in a cut you have to be careful you're not taxing your recovery abilities too much so as to cause muscle loss from overtraining. Do whichever type of cardio you prefer but keep an eye on your recovery and if it becomes an issue decrease intensity or volume of cardio. 500cal deficit isn't too much but it is towards the aggressive side. Nothing wrong with that as long as everything else is being taken care of! Good luck on the cut!