coveting high rank
覦 centers on the desire for high status: coveting a lofty rank or position of power.
覦 combines 見 (see) with 俞, which likely contributes the sound and may relate to the idea of looking upward or aspiring. The exact historical development is uncertain.
The left side 俞 looks like a person stretching upward, and the right side 見 is an eye. Picture someone gazing enviously at a high rank, coveting the position above them.
For ユ, imagine you coveting a high rank: you -> ユ, and your envious eyes (見) are fixed on the position you desire.