Overall meaning:
ʿĀʾishah said that they performed Hajj with the Prophet ﷺ during the Farewell Pilgrimage. After completing the rites they set out to perform the ṭawāf of ifāḍa around the Ancient House, and his wife Safiyyah was with them. On the night of departure Safiyyah began to menstruate. The Prophet ﷺ came wishing of her what a husband normally wishes of his wife, whereupon ʿĀʾishah informed him that she had started her period. He therefore assumed that the bleeding had overtaken her before she had carried out the ṭawāf of ifāḍa, and that ṭawāf is an indispensable pillar without which Hajj is not complete. He exclaimed, “Is she going to keep us here until her menses finish and she performs the ṭawāf of Hajj?” They told him that she had already performed the ṭawāf of ifāḍa before her bleeding began. He replied, “Then let her depart,” for nothing remained for her except the farewell ṭawāf, and she is excused from it.

Points derived from the ḥadith:
1 – The ṭawāf of ifāḍa is a pillar of Hajj that can never be waived.
2 – The leader of the pilgrims, the head of a caravan, and the like must wait for a menstruating woman until her period ends and she is able to perform the Hajj ṭawāf.
3 – The farewell ṭawāf is not obligatory for a menstruating woman; she may leave without offering any compensation for omitting it.

Second ḥadith:
ʿAbd Allāh ibn ʿAbbās said: “The people were commanded that their last act at the House be a ṭawāf, but the menstruating woman was granted an exemption.”

Overall meaning:
This noble House enjoys exaltation and honor, serving as the emblem of worshipping Allah and of humility and reverence before Him. It therefore inspires awe in the breasts and veneration, attachment, and love in the hearts. For that reason the newcomer is prescribed to greet it with a ṭawāf before undertaking any other act of worship, for ṭawāf is its distinctive rite; and when departing he is to make his final act with it so that he may devote himself to that solemn moment when hearts are torn and tears flow at parting from this House to which souls yearn and hearts long to draw near—craving its sacred precincts and exalted landmarks, the place where blessings descended, mercies alighted, and lights shone forth.

This final circumambulation, together with that sorrowful pause between the Corner and the Door, is required of everyone leaving the vicinity of this House, whether pilgrim or otherwise—except the menstruating woman. Because her entrance would soil the mosque, the ṭawāf is waived for her and no compensation is due.