1. Does a Muslim earn reward for merely reciting the Qur’an without understanding it? 2. Is it a condition that the hadith be applied early in the day because of the phrase "أفلا يغدو" [would he not go forth early]? Or is the intention to go to the mosque at any time? 3. What is meant by "ولا قطع رحم" [nor severing ties of kinship] in the hadith?

The hadith mentioned in the question was narrated by Muslim in his Sahih (803) on the authority of Uqbah ibn Amir, may Allah be pleased with him. It contains the wording "so he learns or recites," and the more probable interpretation is that "or" indicates doubt, as the hadith was narrated with the wording "so he learns two verses" in other narrations. Nevertheless, whether the reward is related to recitation or learning, Sahih Muslim (802) contains what indicates the certainty of reward for whoever recites three verses from the Quran, whether in prayer or generally.

And "the Qurra (reciters)" are those who memorize the Quran and understand it deeply, not merely those who recite it, as was common in the understanding of the Salaf. The meaning of "he goes forth" in the hadith is not only going out in the early morning, but rather going out at any time, because people go out in the morning to earn their livelihoods, and the Prophet likened that to going to the mosque to learn the Quran.

And the meaning of "nor severing kinship ties" is obtaining the she-camels without sin or taking them from kin without their permission or consent, which leads to the severing of kinship ties.