The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it is written from left to right. When changing direction it is not mirrored. The word that U+0275 forms with similar adjacent characters prevents a line break inside it. The glyph can be confused with one other glyph.
The Wikipedia has the following information about this codepoint:
Barred o (capital: Ɵ, lowercase: ɵ) is a letter in several Latin-script alphabets.
Historic examples include the Azerbaijani alphabet used between 1922 and 1933 and its successor, the Uniform Turkic Alphabet (including its versions like Jaꞑalif and the Azerbaijani alphabet used between 1933 and 1939), in which it represented the open-mid front rounded vowel [œ].
In many alphabets it was replaced by the Cyrillic letter Ө ө in 1939. In Azerbaijani, it was again replaced by the Latin letter Ö ö in 1991.
The Tatar Latin alphabet devised in the late 1990s by the Tatarstan authorities included the letter Ɵ ɵ. The letter is also part of the African reference alphabet.
In the International Phonetic Alphabet, the lowercase [ɵ] (originally a closed e, later reinterpreted as a barred o) represents the close-mid central rounded vowel.
The letter is not to be confused with the slashed zero, slashed O (Ø ø), the similar Latin letter Ꝋ ꝋ, the Cyrillic letter fita (Ѳ ѳ) and Oe (Ө ө), the Greek theta (Θ θ), Tifinagh letter yab (ⴱ), or the Plimsoll symbol (⦵), despite their similar shapes.