You
might be confused a bit by Jackson's films and
the Rings of Power show -- since
Isildur was in Jackson's Lord of the Rings, but his scene (fighting
Sauron and ending up with
the One Ring) was way (way) before
Bilbo's time. . .
. . . and the Rings of Power show is
purposely messing with
Tolkien's timeline. In Tolkien's timeline, the rings were forged way (way) before Isildur took
the One from Sauron's hand. Here's some
dates from JRRT's
Tale of Years.
Second Age
Year (C.)
1,590 -- The Three Rings are completed in Eregion
Year
3,441 -- Isildur takes the One from Sauron
I'd do the math, but I only have 🐾 🐾 and that's a lot of years in between...