Here Allah refutes those who claim that He has offspring among the angels -- exalted and sanctified be He. Some of the Arabs believed that the angels were the daughters of Allah, but Allah says:
(Glory to Him! They are but honored servants.) meaning, the angels are servants of Allah who are honored by Him and who hold high positions of noble status. They obey Him to the utmost in all their words and deeds.
(They speak not until He has spoken, and they act on His command.) meaning, they do not initiate any matter before Him or go against His commands; on the contrary, they hasten to do as He commands, and He encompasses them with His knowledge so that nothing whatsoever is hidden from Him.
(He knows what is before them, and what is behind them,)
(and they cannot intercede except for him with whom He is pleased.) This is like the Ayat:
(Who is he that can intercede with Him except with His permission) 2:255
(Intercession with Him profits not except for him whom He permits) 34:23. There are many Ayat which say similar things.
(And they for fear of Him) means, because they fear Him.
(And they stand in awe. And if any of them should say: "Verily, I am a god besides Him,") meaning, whoever claims to be a god instead of Allah, i.e., alongside Allah,
(such We should recompense with Hell. Thus We recompense the wrongdoers.) meaning, everyone who says this. This is a conditional sentence, and the condition stated does not necessarily have to take place. This is like the Ayat:
(Say: "If the Most Gracious had a son, then I am the first of worshippers.") 43:81
(If you join others in worship with Allah, (then) surely, (all) your deeds will be in vain, and you will certainly be among the losers.) 39:65