1 Corinthians 7:17-24 is a complex passage which uses ‘circumcision’ as a metaphor for matters pertaining to relationships.
The end result will ideally show a person that in no place has the commandment of circumcision been abolished.
This explanation will also show how 1 Corinthians 7:17-24 is instead essentially instructing believers to remain in the same relationship state/status that they were in at the time that they first believed, repented, and were saved.
Infact the entire chapter of 1 Corinthians 7 deals with relationship related matters.
For example, if you were single at the time of believing, the passage instructs you to stay single – unless you burn with desire (for intimacy etc.), then you should seek marriage to avoid immorality (inc. even self stimulation), instead (ref. Matthew 5:27-30).
As the passage concludes it encourages all believers, by saying the married will do well, and the single will do even better – distractions, obligations, and cares being sighted, as the married need to tend to their relationship as well as their faithful walk and observance.
The explanation for this section of Holy Scripture will be shared in a verse-by-verse style format to assist in providing correct context.