 Solution

The multiplier enforcing elastic incompressibility contributes an arbitrary hydrostatic stress. Denote it by $q(r)$ to distinguish it from the applied pressure $P$. For the neo-Hookean solid, the Cauchy stress tensor is $\tau =-qI+\mu F{F}^T$. Thus its principal components areThe axial component is $t_z=-q+\mu$, despite the unit axial stretch. The quantity $q$ is a Lagrange multiplier determined together with equilibrium and the traction conditions; it is not obtained by differentiating the reduced stretch energy while ignoring its constraint.

In particular the stress difference eliminates this multiplier: