This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 矒 is uncertain. It visually contains 目 (eye) and 瞢, but the original semantic and phonetic roles are unclear.
With 目 (eye) on the left and a dense, obscured-looking right side, 矒 suggests something unclear to the eye, like blurred vision or dimness.
For ボウ, imagine a blurry vision that makes everything look like a bow (ボウ) shape: the bow cues ボウ while the eye struggles to see clearly.