What is the correct course of action on this one-way road?

You chose the correct answer, which is to wait until the works allow you to drive past. On a one-way street that is blocked by roadworks, you are not allowed to turn around or reverse back up the road, as this would go against the one-way traffic regulation and pose a danger to others. The safest and legally correct action is to wait until the obstruction is cleared and you can safely continue driving in the allowed direction. Always follow the flow of traffic and never drive against the direction indicated on a one-way street.