What is the ruling on Udhiyah (sacrifice) in Islam, and is the hadith "Whoever does not offer a sacrifice should not approach our prayer place" authentic?

The jurists differed regarding the ruling on Udhiyah (ritual sacrifice). The majority held that it is a confirmed Sunnah (prophetic tradition), while the Hanafis maintained that it is obligatory. The more preponderant opinion is that it is a confirmed Sunnah.

The mentioned hadith, "Whoever dies and has not offered a sacrifice, let him die a Jew or a Christian," was not narrated with this wording. Rather, what was narrated is, "Whoever finds means but does not offer a sacrifice, let him not approach our prayer place," and its ruling (regarding its authenticity) is disputed between being considered good (hasan) or weak (da'if).

As for the hadith, "Whoever dies and has not performed the Hajj of Islam...", it is weak and pertains to Hajj, not Udhiyah.