This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
磦 combines 石 (stone) with 票, which likely contributes a phonetic element. The exact historical development is uncertain.
The left side is stone 石, and the right side looks like a ticket 票. Imagine a stone ticket stub, but its purpose is unclear—just like the kanji's meaning.
For ヒョウ, picture a stone ticket stub being tossed into a heap: heap -> ヒョウ, and the stone ticket lands with a thud.