The word translated “abolished” [KJV/ESV] or “enmity” [YLT] is a very strong word. The Greek word translated “abolished” here is “KATARGEO,” and it means “to be (render) entirely idle (useless)” (Strong’s Concordance). The American Heritage Dictionary defines “abolish” as “to do away with; annul.” Paul was saying that the Old Testament Law, which made a division between Jew and Gentile, was entirely useless in relating to God now (Romans 3:19).
As to which rendering or translation is best? … this would or could be debatable. It needs to convey, without doubt, the removal of the Law as a barrier.
Some people proclaim that only the ceremonial parts of the Law, such as feast days, dietary laws, etc., were done away with, but that is not so. James 2:10 says, “For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.” The O.T. Law had many ordinances, but combined they made one Law. Failure to comply with any one point of the Law was failure to comply with all of the Law. Likewise, doing away with any one point of the Law was doing away with all of the Law.
Of course, it must be understood that the O.T. Law still has a purpose. The purpose of the Law always was and continues to be showing us our sin and leading us to a Savior (Romans 3:19). When used for this purpose, the Law is good (Romans 3:31). To use the Law as a standard by which we can make ourselves worthy to receive from God is wrong.
The Law did provide justification for one man–Jesus. He kept every detail of the Law and was justified by His actions. But having obtained justification for us through the Law, He abolished that function of the Law forever and now offers justification with God on the basis of faith in His grace (Ephesians 2:8).