Bilbo didn't just drop the Ring and walk off to Rivendell. Gandalf had a role in separating The Ring from Bilbo and putting it under the control of the Council. The Ring had its own plans too.

He was able to resist the ring because he was never in possession of it when Sauron knew it was in middle earth. Sauron was very weak for the time bilbo had the ring so the ring was less powerful and persuasive.

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I never understood how he was able to walk away like he did from the addiction of the ring and especially considering how long he had it. The only thing I can think is that like Samwise who wasn’t able to be swayed as much by the ring and mixed with Sauron’s power not being at its most potent.

Would be fascinated to learn from someone who has more knowledge than my surface level opinion though 😊

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I’m guessing that Tolkien felt Bilbo had not been wearing the ring enough to be addicted to it to the point where he’d do that. He had the ring for a long time but wasn’t wearing it. That’s my understanding anyway.

Could, arguably, the ill effects of old age quickly overcame any addictive urge for the ring? Plus the ring chose a new owner?