Three men were originally arrested after the incident on January 18.
Brian Harwood was among 11 people thrown from an all-terrain vehicle pulling a trailer when the bridge gave way in Roeburndale, near Wray.
Mr Harwood, from Penrith in Cumbria, died at the scene.
Two other people were injured and taken to hospital after the incident.
Police said at the time that those in the vehicles were from a "shooting party" who were "travelling on private land" and were returning to a farm when the bridge suddenly gave way beneath them.
A 55-year-old man from Preston and two men, aged 52 and 57, from Lancaster, were later arrested on suspicion of gross negligence manslaughter.
The 55-year-old and 57-year-old have this week been released under investigation pending further enquiries.
The 52-year-old man has been released with no further action to be taken.