white horse
驃 centers on a white horse, specifically a horse with a white coat. The meaning is narrow and concrete, referring to the animal itself.
驃 combines 馬 (horse) with 票, which likely contributes the sound. The character is used specifically for a white horse.
The left side is a horse 馬, and the right side 票 looks like a ticket or label. Imagine a white horse with a ticket on it, marking it as a special white horse.
For ヒョウ, picture a white horse galloping across a frozen lake, its hooves making a sharp 'hyou' sound on the ice: hyou -> ヒョウ.
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