To scale reads and offload part of the management operations in a hybrid configuration using Compute Engine on Google Cloud and your data center for MySQL databases, the best approach is to use Cloud SQL for MySQL external replica. This option allows you to create a replica of your on-premises MySQL database in Cloud SQL, enabling you to scale reads and offload management operations to Google Cloud. External server replication (Option A) is not as integrated or managed as Cloud SQL. Data Migration Service (Option B) is more suited for migrating data rather than creating replicas for scaling reads. Using the mysqldump utility and binary logs (Option D) is a manual and less efficient method compared to using Cloud SQL's managed services.