How does extinction affect evolution?

It speeds up the evolution of other species.

It slows down the evolution of other species.

It completely stops the evolution of a species.

It has no effect on evolution.

If a species is said to be extinct, then that species is reduced to zero. There are none living in existence. The affects to other organisms of its extinction would depend on their value to the ecosystem. Regardless, extinction completely stops evolution of the species extinct.