This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 猅 is uncertain. It combines 犭 (animal) with 非, but the original meaning and component function are unclear.
With no clear meaning, picture a strange animal (犭) that is not (非) what it seems—a mysterious creature whose purpose is unknown.
For ハイ, imagine the animal letting out a high-pitched cry: high -> ハイ, even though the kanji's meaning remains a mystery.
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