This is assuming you live in a culture where the fourth finger is typically used to show that someone is married or engaged; otherwise, please select "Something else" and let us know what varies.
Please feel free to elaborate below. Also...
Bonus question: If you were interested in approaching that person romantically, would seeing a ring there be a total dealbreaker, just a red flag that you could overlook, or perhaps even more appealing? What about if he or she approached you instead?

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8Opinion
There are some single women who wear a wedding ring on the fourth finger so that guys don't bother them, try to pick them up. So it's not 100% that the person is married, engaged or otherwise taken.
To me, its the style of the ring. I wear a lot of rings so my ringfinger one day could have a simple band, another day a gem, a skull, whatever design im liking for the day. But i know a lot of people consider it marriage if only the ring finger has something. I used to wear a fake wedding ring at my first job because i had so many guys trying to hit on me and it quickly stopped it.
Depends on the rings
Just that finger (left hand here but I know Ukraine is right hand almost other places) would say taken or trying to pass off as such (like if I don't want to be harassed at the bar then I had a wedding band I'd put on)
Rings on every finger like myself could mean anything like I'm single and will be for life (I wear a diamond set onyx and gold signet on my ring finger)
Yeah they're either taken or want people to think they're taken to drive off pick up artists and desperately needy would be suitors. Either way it's a signal to not approach.
It's a strongly practised tradition to reserve it for matrimony. Unless someone is wearing an inordinate amount of jewellery, it's a very strong predictor.
It is dumb to assume anything related to that.
Depends on the type of ring and how many other rings they wear.
I don’t pay attention, but I guess they’re married
In most cases, if a woman is wearing it, it means she doesn't want to be bothered.
I assume they want to discourage advances.
it depends on what kind of ring.
Yes..
Probably yes
Yes I do