This is one of the many trolls you’ll encounter in your adventure. Its attacks deal massive damage but can be easily predicted and evaded. You cannot block or parry its attacks and if you get within melee range, it will attempt to stomp you. While not glorifying, the cheapest way to win against this monster is to keep your distance and use your axe as a homing projectile. It doesn’t do that much damage but at least you’ll be consistently safe almost all the time.
In this battle, Atreus can also shoot at the troll. You don’t need to worry about him since he can’t be hit, damaged, or killed. He can be still be captured temporarily by some enemies which you’ll have to free him by attacking the enemy holding him. His arrows won’t do that much damage to the troll but he’ll be effective in distracting the monster, giving you a much needed breathing space if you’re getting cornered, in need of healing, or if you want to get up close and land a few melee hits.
Keep repeating this until the troll’s HP bar is depleted. By then, Kratos should be able to finish it off by getting up close and pressing R3. Hit the attack button to complete the finishing move and defeat the troll. After defeating the troll, pick up the items it left behind and you’ll have to return to the house next.