This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
鱲 combines 魚 (fish) with 巤, which likely contributes sound. The exact historical development is uncertain.
The left side is 魚 (fish), and the right side is 巤. Since the meaning is unclear, picture a rare, mysterious fish with a complex, spiky fin shape like 巤.
For リョウ, imagine a rare fish named Ryo swimming in a deep lake: Ryo -> リョウ.