This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
睺 combines 目 (eye) with 侯, which likely contributes the sound. The exact historical development is uncertain.
The eye 目 beside 侯 suggests something related to looking or watching, but the exact meaning is unclear.
For コウ, imagine a person named Kou staring with one eye: Kou -> コウ, and the eye 目 is watching.
Rago; mythological celestial body and/or evil spirit (asura) said to cause eclipses