hill, mound
隴 centers on an elevated landform: a hill or mound. The two given meanings are essentially the same idea of a raised piece of ground.
隴 combines the mound radical ⻖ with 龍, which likely contributes the sound. The character is used for place names and refers to hills or mounds.
The left side ⻖ is a mound or hill, and the right side 龍 is a dragon. Imagine a dragon coiled on top of a hill, making the mound its home.
For ロウ, picture a low hill where a dragon rests: low -> ロウ, and the dragon on the mound makes the hill seem low and cozy.