collect, gather, assemble, praise
裒 centers on bringing things together: collecting, gathering, or assembling items or people. The praise sense is a natural extension of gathering acclaim or commendation.
裒 combines 衣 (clothing) with 臼, which likely contributes a phonetic element. The exact historical development is uncertain, but the character is associated with gathering or collecting, possibly from the idea of wrapping things in cloth.
Picture wrapping items in clothing (衣) and using a mortar (臼) to gather them together. The act of collecting and assembling leads to praise when done well.
For ホウ, imagine gathering a whole (ホウ) collection of clothes into a mortar: whole -> ホウ, and you assemble everything together.