high, far
尭 centers on elevation and distance: something high up or far away. The two senses are connected by the idea of being remote or lofty.
尭 is the modern simplified form of 堯. The older form is associated with high or lofty, but the detailed historical development of the components is uncertain.
The top part looks like a simplified mound or peak, and the bottom 兀 suggests a high, flat base. Picture a high, far-off plateau: 尭 is high and far.
For ギョウ, imagine a high, far mountain peak named Gyo: Gyo -> ギョウ, and the peak is so high it seems far away.