To find the LCM of two polynomials, we use the formula:
\[
\text{LCM} = \frac{p(x) \times q(x)}{\text{HCF}(p(x), q(x))}
\]
Here, we are given that \( \text{HCF}(p(x), q(x)) = 4x(x - 2) \). The LCM is:
\[
\text{LCM}(p(x), q(x)) = \frac{4x^2(x^2 - 3x + 2) \times 12x(x - 2)(x^2 - 4)}{4x(x - 2)} = 12x^2(x^2 - 3x + 2)(x^2 - 4)
\]
Thus, the correct answer is \( 12x^2(x^2 - 3x + 2)(x^2 - 4) \).