Sahih Bukhari Volume 3, Book 43, Number 656:
Allah's Apostle said, "The Hour will not be established until the son of Mary (i.e. Jesus) descends amongst you as a just ruler, he will break the cross, kill the pigs, and abolish the Jizya tax. Money will be in abundance so that nobody will accept it (as charitable gifts).
Since Jizya is abolished the verse 9:29 will have only two options to people of the book.
Fight against those who (1) believe not in Allah, (2) nor in the Last Day, (3) nor forbid that which has been forbidden by Allah and His Messenger (4) and those who acknowledge not the religion of truth (i.e. Islam) among the people of the Scripture (Jews and Christians), until they pay the Jizyah with willing submission, and feel themselves subdued.(9:29)
Can we conclude people of book will be only given option of Islam or death under jesus?