Is it correct or incorrect for the person who was honored to reciprocate the banquet only to the one who paid the money, knowing that others contributed to the agreement and the honoring?

The Prophet, peace and blessings be upon him, used to accept gifts and reward for them, which indicates the sunnah (recommended practice) of doing so. It is not obligatory for someone who has been honored with a walimah (feast) to reciprocate with a similar one. However, it is among the noble virtues to reciprocate kindness with kindness by honoring all those who participated in preparing the feast for him without differentiation, because the intention is to spread affection and strengthen love. Inviting some colleagues but not others may lead to stirring up resentment.