Right
矦 supplies the sound — hóu shifted to hòu, only tone differs.
矦 is the archaic form of
侯 (marquis), pictographically an arrow striking a target — becoming a noble through archery. With the person radical, the picture is 'the one who awaits the lord's signal', preserved in
等候 (await),
时候 (time),
候鸟 (migratory bird arriving with the season).
