Surely, there is no question regarding the sufficiency of Christ in salvation. Hendriksen didn't address this but can someone derive from using these verses that the 4th Commandment has been abrogated.
Yes, someone could conclude from this Colossian passage that the 4
th commandment has been abrogated... but they would be in error.

The passage isn't addressing the moral law, i.e., the Ten Commandments but rather the ceremonial laws regarding the observation of festivals and special days which more specifically had been distorted in the teachings of the Pharisees, Sadducees and Essenes. These are referred to by Paul as "philosophy", "vain deceit" and "traditions of men", the origin of which are further deemed "the rudiments of the world" in verse 8. (cf. Hendriksen p. 109)
Further, Paul didn't write, "or
the sabbath day", but rather "or
a sabbath day" as many of our English translations render it. But the Greek actually is "of sabbath
days" (plural), which I understand to mean those weekly festivals celebrated by the Jews according to the Old Testament and rabbinic tradition. In short, Paul is rejecting these OT elements along with their ascetic interpretations of their observance which had come down through the centuries of which believers in Christ were no longer bound. The context should be closely noted as the mention of "sabbath days" is inextricably bound to "festival" and "moon" (cf. 1Chron 23:31; 2Chron 2:4; 31:3).
In His grace,