Hi Gilborg,
First off, a 700/Q46 is an outstanding Score, so you can comfortably apply to any Business Schools that interest you. As such, a retest might not be necessary. Depending on the Schools that you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile and plans. There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/To answer your immediate question: many Schools/Programs still do not place much (if any) emphasis on an Applicant's IR Score - meaning that your performance (or potential performance) in that one section should not be influencing your decisions, UNLESS a representative from a specific Program that you plan to apply to has told you directly that IR is a notable factor in the application process for that Program.
If you do choose to retest though, then we have to examine how you were studying for the Quant section before. Once you've decided on whether to retest or not, you should post back here (or you can PM me directly) and we can talk through your study options going forward.
GMAT assassins aren't born, they're made,
Rich