This day are (all) things good and pure made lawful unto you. The food of the People of the Book is lawful unto you and yours is lawful unto them. (Lawful unto you in marriage) are (not only) chaste women who are believers, but chaste women among the People of the Book, revealed before your time,- when ye give them their due dowers, and desire chastity, not lewdness, nor secret intrigues if any one rejects faith, fruitless is his work, and in the Hereafter he will be in the ranks of those who have lost (all spiritual good).
According to Anwar ul Bayan,
“Whoever rejects Belief (Iman) has indeed destroyed his actions and, in the Akhirah (hereafter), he will be among the losers.” This part of the verse refers to disbelievers (kuffar) and those who are murtad. They will not be saved in the Akhirah (Hereafter) and will have to suffer eternal punishment. (See 2:217)
Madani, Muhammad. Anwar ul Bayan. (vol. 3 surah 5 verse 5). http://www.islamicweblibrary.com/wp-content/uploads/2020/04/Tafsir-Anwarul-Bayan-02.pdf