quiver
掤 centers on a quiver, the container for holding arrows. Its meaning is narrow and concrete, with no clear abstract extensions from the given gloss.
掤 combines 扌 (hand) with 朋, which likely contributes the sound. The exact historical development is uncertain, and the modern form may be a simplification or variant.
The hand radical 扌 beside 朋, which looks like two stacked boxes, can be imagined as a hand holding a quiver full of arrows arranged in neat rows.
For ヒョウ, picture a hunter yelling 'hyo!' as they pull an arrow from the quiver: hyo -> ヒョウ, and the hand grabs the next arrow.