Step 1: Write the angle formula.
For the pair $ax^2 + 2hxy + by^2 = 0$, $\tan\theta = \left|\dfrac{2\sqrt{h^2 - ab}}{a+b}\right|$.
Step 2: Use the given angle.
Since $\theta = \dfrac{\pi}{4}$, $\tan\theta = 1$. Squaring gives $(a+b)^2 = 4(h^2 - ab)$.
Step 3: Solve for 4h squared.
\[ a^2 + 2ab + b^2 = 4h^2 - 4ab \Rightarrow 4h^2 = a^2 + 6ab + b^2 \]
\[ \boxed{a^2 + 6ab + b^2,\ \text{option 3}} \]