This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 徱 is uncertain. It visually combines 彳 (movement) with 票, but the original semantic and phonetic roles are unclear.
Since the meaning is unclear, focus on the shape: 彳 suggests movement, and 票 looks like a ticket or label. Imagine a moving ticket, but treat the meaning as unknown.
For ヒョウ, use the right-side 票 (ひょう) as a direct sound cue: 票 -> ヒョウ, even though the meaning is uncertain.