All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His Slave and Messenger.
The summary of what the scholars of Tafseer mentioned regarding the meaning of this verse signifies that the women referred to in the verse are those who attained the age at which men do not find desire for them, nor do those women find desire for men. The garment in the verse refers to the outer clothes such as the ‘Abaayah and Jilbaab (long, flowing, baggy over garments worn by Muslim women). It does not mean that their ‘Awrah can be exposed. Scholars added that there is no disagreement that the hair of the aged woman, a like that of the young one, is an ‘Awrah that non-Mahram men are not allowed to see. Also, if the aged woman performed prayer with her hair uncovered, her prayer would be invalid just like the young woman.
Therefore, it is not possible that the verse means that the aged woman is allowed to discard her Khimaar (head cover) in the presence of non-Mahram men, and this is evidence that she is only permitted to take off her outer garment in the presence of men after covering her hair, and hence she is permitted to uncover her face and hands because she is not desired by men.
As for the Saying of Allaah (which means): {but it is best for them to be modest}, it indicates that Allaah The Almighty permitted the aged women to set aside their outer garments, yet adhering to the same dress the young women wear is better and preferable. And the Saying of Allaah (which means): {provided they make not a wanton display of their beauty} indicates that they should not display their adornment to make men look at them.
Allaah Knows best.