Nightclubs in GTA Online are businesses included in the game as a part of the After Hours update. Any of the ten clubs can be purchased at the Maze Bank Foreclosures website.
To complete this objective, you need to perform a parachute jump and deploy your parachute at a short distance from the ground. That distance may differ, you can check the exact altitude in the interaction menu.
The “D” letter in the Vinewood Sign is perfect for performing this objective. You can climb to the top of it using stairs, and there is a parachute upstairs. Jump to the south side and open the parachute in about a second and a half after the jump. If your character will not die when landing, the objective will be completed.
This daily objective is buggy and sometimes cannot be completed even if you do everything right. If you encounter this, you will not be able to receive a daily reward, and progress on receiving a weekly and monthly reward will be reset.