Remathilis
Legend
And to answer your question:
A "world" map is important. And by world, I mean the scope in which the setting in encompassed. Whether it is a planet, galaxy, continent, country, town, house, large dragon bones, etc.
Races in my opinion are pseudo important, only because it will differentiate said setting from other settings by the type of beings that inhabit said setting.
Classes equally as important as race choice.
Equipment, is important, how else would the players do things without a hammer? A sword? Spell components? Food? Water?
Starting Region is important because the journey has to begin somewhere, and this is largely dependent on setting size.
Monsters are important, the PCs need something to fight. Even if the monsters are other humans!
A Starting Adventure is a good idea, because it gives the players an idea of what the setting is like.
I find Variant Rules important, because this also helps establish your setting as its own creation. Obviously, most of the core would be D&D 5e related, but enough Variant Rule fluff to also give the game its own identity.
What do I find unimportant, mainly because it depends on the setting size, scope, and type are -
Religion
Nations
Culture
Calendar
Magic
Organizations
I hope you found some good insight on what I said.
Without tipping my hand too much, I will say there is a very different opinion on if a setting is designed top-down vs bottom-up. Both types of settings require different requirements. The stuff you mentioned as essential is important to a bottom-up setting, whereas the stuff you mentioned as unimportant are key for top-down.