It's like beating a dead horse – the horse is already dead, so there's no point in continuing to hit it.
Here are some examples of how it might be used:
* "We've already discussed this issue for hours. Let's not ride this dead horse anymore."
* "The company decided not to pursue the project, so there's no need to keep riding that dead horse."
* "The argument has been resolved, so please stop riding this dead horse."
The idiom highlights the futility of continuing a discussion that has reached a dead end. It suggests that it's time to move on and focus on other issues.