Final answer:
Deferred requirement status refers to an approved requirement planned for implementation in a later release, indicating it's postponed but not discarded.
Step-by-step explanation:
The most appropriate description of deferred requirement status is A. an approved requirement is now planned for implementation in a later release.
This means that the requirement was initially approved for inclusion in a project or system but has since been postponed and is scheduled to be addressed in a future update or version. It is important to differentiate this from requirements that were never approved or which have been completely discarded.