This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
韸 combines 音 (sound) with 夆, which likely contributes a phonetic element. The exact historical development is uncertain.
The left side 音 suggests sound, and the right side 夆 looks like a person with a hat. Imagine a mysterious sound coming from a person wearing a tall hat, but the meaning remains unclear.
For ホウ, imagine a hollow sound echoing from the hat: hollow -> ホウ, tying the sound component to the reading.