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I.e., His Being is eternal, without anything preceding His existence and without anything outlasting its infinity: an interpretation given by the Prophet himself, as recorded in several well-authenticated Traditions. Thus, "time" itself - a concept beyond man's understanding - is but God's creation.
I.e., He is the transcendental Cause of all that exists and, at the same time, immanent in every phenomenon of His creation - cf. the oft-repeated Qur'anic phrase (e.g., in verse {5}), "all things go back unto God [as their source]"; in the words of Tabari, "He is closer to everything than anything else could be". Another - perhaps supplementary - rendering could be, "He is the Evident as well as the Hidden": i.e., "His existence is evident (zahir) in the effects of His activity whereas He Himself is not perceptible (ghayr mudrak) to our senses" Zamakhshari).
Another possible translation: “the Manifest ˹through His signs˺ and the Hidden ˹from His creation˺.”
Allah is Evident in so far as there is ample evidence of His existence and providence all around us. On the other hand, Allah is Hidden in so far as intellect cannot grasp His essence nor can He be seen in the present world. The following tradition in Sahih Muslim is also significant for an understanding of this verse. The Prophet (peace be on him) said: "Thou art the First, so that there was nothing before Thee; and Thou art the Last, so that there is nothing after Thee; and Thou art Evident, (or Ascendant) so that there is nothing above Thee, and Thou art the the Hidden, the Knower of hidden things, so that there is nothing hidden from Thee."