I believe the correct answer is: 4. The old can regain honor by taking up challenges again.
The main theme reflected in this excerpt from “Ulysses” written by Alfred, Lord Tennyson is that the old can regain honor by taking up the challenges again. In this excerpt Ulysses shifts attention to the port of Ithaca where he tells us a ship is preparing to set sail and says that “Free hearts, free foreheads – you and I are old; /Old age hath yet his honor and his toil;” meaning that even if they are old, they can still regain their honor by taking challenges.