We use this expression to tell someone they no longer have to do something. They've met their obligation, or we've found another solution to our problem.
It came from fishing: a fish on the hook is trapped and out of options, unless we decide to release it.
So, if someone is required to help you do something and you've found another way, go ahead and let them off the hook.
Additionally, we use 'off the hook' as slang. Or, used to, anyway. This particular phrase was popular 30+ years ago, but if you want to use it today, go right ahead.
If something was really cool, we'd say it's off the hook!
You may get a chuckle or two, but you'll get your point across!
"Okay, you're off the hook. Thanks!"
We use this expression to tell someone they don't have to do something anymore. They've done what we needed them to do, or we've found a different solution.
They don't need to worry about it anymore.
This phrase came from fishing. A fish on a fishing hook is trapped: they have no options to get free. The only way that can happen is if we release it.
So, if you've told someone they need to help you do something and you've found another way, go ahead and let them off the hook.
We also have used "off the hook" as slang. If something was really cool, we would say it's off the hook!
Using off the hook this way was popular probably around thirty years ago, but if you wanted to use it today, you could.
People will probably laugh and be surprised to hear it, but they'll know what you mean!