How sound is the Hadith: "Allah gives the worldly life to those He loves and to those He does not love, but He does not give the religion except to those He loves"?

The aforementioned Hadith is authentic and was narrated by Al-Hakim, Ahmad, and Ibn Abi Shaybah with similar wordings, including: "Indeed, Allah has distributed among you your characters just as He has distributed among you your provisions. And indeed, Allah gives the worldly life to those He loves and to those He does not love, but He does not grant faith except to those He loves." And in some of its narrations, it is stated: "So, whoever Allah grants religion, He has loved him. And by the One in Whose Hand is my soul, no servant becomes Muslim until his heart and tongue submit, and he does not become a believer until his neighbor is safe from his harms." And "No servant earns unlawful wealth and spends from it, but it is blessed for him, nor does he give charity from it, but it is accepted from him, nor does he leave it behind him except that it becomes his provision to the Hellfire. Indeed, Allah, عز وجل, does not efface evil with evil, but He effaces evil with good. And indeed, bad cannot efface bad."