This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 掚 is uncertain. It visually combines 扌 (hand) with 兩, but the original semantic and phonetic roles are unclear.
With no clear meaning, picture a hand 扌 holding two 兩 things, but what it does is a mystery.
For リョウ, imagine a hand 扌 holding two 兩 things while someone says 'ryo' (リョウ) as a made-up sound for the action.