This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. The word that U+2652 forms with similar adjacent characters prevents a line break inside it.
The CLDR project calls this character “Aquarius” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: bearer, horoscope, water, zodiac.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: ♒︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
Aquarius (♒︎) (Greek: Ὑδροχόος, romanized: Hydrokhóos, Latin for "water-bearer") is the eleventh astrological sign in the zodiac, originating from the constellation Aquarius. Under the tropical zodiac, the Sun is in the Aquarius sign between about January 20 and February 18. Aquarius is one of the three air signs, alongside Gemini and Libra. The ruling planets of Aquarius are Saturn (In traditional astrology alongside Capricorn), and Uranus in modern astrology. It is a fixed Air Sign. The opposite sign of Aquarius is Leo.