This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 彺 is uncertain. It visually combines 彳 (movement) and 王 (king), but the original semantic and phonetic roles are unclear.
A person 彳 walking beside a king 王, perhaps hurrying to serve, but the meaning is uncertain.
For オウ, imagine a king (王) shouting 'Oh!' (オウ) as he hurries along the path (彳).