Though there was danger involved in allowing the continual existence of the ring, Elrond would not have taken it from Isildur, as forcing him to destroy his weregild would be extremely disrespectful (and possibly war-provoking) to not only Isildur, but the deaths of Elendil and Anárion.
The main reason that Elrond wouldn't have pushed Isildur was that he simply couldn't have brought himself to destroy the Ring. He knew that the Ring needed to be destroyed, but actually doing it would have been different.
In the War of the Last Alliance, Isildur cut the One Ring from Sauron's hand, but refused to destroy it. Isildur was later killed by Orcs in Disaster of the Gladden Fields, and the Ring was lost for nearly 2,500 years. His refusal to destroy the Ring allowed Sauron to endure and remain a threat to Middle-earth.
Isildur put on the Ring, hoping to escape under the cover of invisibility. Fleeing to the Anduin, he cast off his armour and tried to swim to the other side of the river, but the Ring slipped (of its own volition) from his finger.
The One Ring was an ancient artifact created by the Dark Lord Sauron in the Second Age for the purpose of ruling over the Free peoples of Middle-earth, mainly the Elves. It was also known as the Ruling Ring, Great Ring of Power and Isildur's Bane (due to it causing the death of Isildur).
Why didn't Elrond take the Ring from Isildur after Sauron was defeated?
How was Sauron so easily defeated by Isildur?
The Elven King named Gil-galad fought side-by-side with Elendil, the King of Men. Together they managed to mortally wound Sauron, but the fight cost them their lives. This is when Isildur, son of Elendil, took his father's sword and cut the Ring from Sauron's hand, dealing the final blow.
In the books, Isildur did not defeat Sauron; it was his father Elendil and the Elf King Gil-galad who defeated Sauron together at the cost of their lives. Isildur cut the Ring from Sauron's dying body, and his spirit fled.
After Isildur's (voiced by Nolan North) death, the Orcs brought his body to the diminished and vengeful Sauron, who put a Ring of Power on his finger, reviving him as one of his servants and eventually turning him into a Nazgûl.
However Isildur was by right High King over both Arnor and Gondor, though after Isildur's death his son Valandil did not press the claim, so thereafter the realms were entirely split. Thus, the House of Isildur ruled Arnor and the House of Anárion ruled Gondor.
Aragorn and Legolas are long-time companions and best friends since Legolas' father Thranduil sent him to live among the Rangers of the North. Aragorn and Legolas grew close, up to the point where Aragorn revealed his true identity to Legolas. Throughout his journeys, Aragorn and Legolas are as close as brothers.
Isildur lives a total of 234 years before he's killed by Orcs early in the Third Age, but it's already clear The Rings of Power isn't sticking to this exact timeline.
Aragorn was a Ranger of the North, first introduced with the name Strider and later revealed to be the heir of Isildur, an ancient King of Arnor and Gondor. Aragorn was a confidant of the wizard Gandalf, and played a part in the quest to destroy the One Ring and defeat the Dark Lord Sauron.
He did not want to see his daughter Arwen married to Aragorn, a mortal, and did his best to stop her from following her heart. Not only did he treat Aragorn– and the race of men in general– with contempt, but he went as far as lying to Arwen about what he saw of her future.
In the spiritual world, beings are invisible to those in the physical world. This is why Isildur, Bilbo, and Frodo become invisible when they wear the Ring—because they are no longer in the physical world. As Olsen said, Sauron does not have a real body, so he is not affected in the same way.
The last person in Isildur's line to sit the throne of Gondor was Isildur himself. After that, the throne passed on to Anarion's descendants. Aragorn is related to Isildur through Valandil, Isildur's fourth son. Valandil's descendants were traditionally the Kings of Arnor, not Gondor.
Though Elrond and the other elves were concerned that the one ring could be used as a weapon against those who wore the three elven rings (Elrond bore Vilya, the Ring of Air, and Círdan bore Narya, the Ring of Fire), Isildur believed it could be a weapon against orcs and the forces of evil, and believed he could handle ...
Many Tolkien scholars also identify the Witch-king as one of the three Black Númenóreans who Tolkien stated had become Nazgûl; in particularly, many theorize that Isilmo, a Númenórean prince and father of Tar-Minastir, could possibly be the man who became the Witch-king of Angmar.
Defeated by the Host of Valinor in the War of Wrath, Morgoth was banished from Middle-earth into the Timeless Void, though it was prophesied that he would one day return.
"So I think in his pitch to Galadriel, it cannot mean that he loves her or that there's any kind of romantic relationship. There should be no ambiguity around the fact that Sauron is evil — he's terrible, and he's using Galadriel to enhance his power."
Morgoth, the first to reign terror upon Middle-earth, was more powerful than Sauron and commanded an army of dragons and Balrogs. While both Morgoth and Sauron were cunning, Morgoth's rule and terror lasted longer and his corruption spread further, making him more formidable in the Lord of the Rings universe.
What happened to Sauron when Isildur cut off the Ring?
As a result, while cutting off the Ring did destroy Sauron's body, it didn't destroy his spirit, and thus paved the way for Sauron's eventual return, even without a proper physical presence. This is why his will is carried out by those who serve him in The Lord of the Rings, like the Ring-Wraiths and Saruman.
As one of the nine Nazgûl, Isildur was forced to serve the Dark Lord for all time until he was defeated and freed by Talion. The ranger later claimed his ring to survive after Celebrimbor abandoned him and eventually took Isildur's place among the Nazgûl after holding back Sauron's forces for decades.
Ar-Pharazôn the King received word of his rise in power, and angered by Sauron's pride the Númenóreans swiftly came once more to Middle-earth with a great military force to confront Sauron a final time in SA 3261. So mighty were they that Sauron's forces fled from them with barely a fight.
