This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
爈 combines 火 (fire) with 慮, which likely contributes the sound. The exact historical development and original meaning are uncertain.
With 火 on the left and 慮 on the right, imagine a fire that requires careful thought to control, but its exact meaning remains unclear.
For リョ, picture a thoughtful person named Ryo carefully tending a fire: Ryo -> リョ, and the fire 火 is managed with consideration 慮.