Quick answer
Leaving the good road brings hard consequences, and refusing correction is how a person ends up on the wrong side of them. The verse describes where a trajectory goes, not a sentence God pronounces.
Read both lines
The first line states the cost of departure and the second names the mechanism, which is a hatred of correction. Read together they describe a closed loop: the man who forsakes the way needs correction most, and the same disposition that made him leave makes him unable to take it. That is why the ending in the second line is stated so bluntly. Deed and consequence grow together in this book, and a life that has sealed itself against every warning has removed the one thing that could redirect it.
Two guardrails belong on this verse. It is not a tool for reading anyone else's hardship as evidence of their sin, a reading Job's friends attempted and were rebuked for. And "will die" here is the observed end of a road, the way a physician speaks of an untreated illness, not a description of God's disposition toward the person on it. The book's own hope runs the other way: correction exists precisely so that the road can be left.
Related: Proverbs 15:31 · Proverbs 15:32 · Proverbs 5:23
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.