Hold off most commonly means to delay making a decision. Ex: He held off on purchasing a new car because he thought the price was going to go down. It can also mean to impede someone or some thing else's action. This is often used in contexts of sports or war. Ex: Bayern Munich held off Dortmund to win the Bundesliga finals.

Easiest way to explain this is that if someones asks you to hold off they are asking you to wait or go against what you want and wait, mostly for a better outcome. For example: Hold off applying for that job because later applicants have more chance of getting it.

hold off = wait I am still eating my appetizer, can you hold off on preparing my entree. I am still eating my appetizer, can you wait before preparing my entree. hold off = keep away The horse is afraid, I can not hold him off any longer. The horse is afraid, I can not keep him back any longer.

It depends on the context. Hold off could be used exactly like “put off”, wherein you’re indicating that an action or a process can be delayed for the meantime. For example: Barista: Should I throw this coffee out? It’s been 4 minutes, I’ve called the customer’s name several times now and he still hasn’t shown up. Manager: No. hold off for now, he might come back. Hold off could also mean holding off, as in delaying an opposing party/individual. Example: Despite being outnumbered the soldiers were able to hold off the bandits until reinforcements arrived.