This character is a Other Punctuation and is commonly used, that is, in no specific script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. The word that U+2050 forms with similar adjacent characters prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
This article is a list of standard proofreader's marks used to indicate and correct problems in a text. Marks come in two varieties, abbreviations and abstract symbols. These are usually handwritten on the paper containing the text. Symbols are interleaved in the text, while abbreviations may be placed in a margin with an arrow pointing to the problematic text. Different languages use different proofreading marks and sometimes publishers have their own in-house proofreading marks.
Representations
System
Representation (click value to copy)
Nº
8272
UTF-8
E2 81 90
UTF-16
20 50
UTF-32
00 00 20 50
URL-Quoted
%E2%81%90
HTML hex reference
⁐
Wrong windows-1252 Mojibake
â
Encoding: GB18030 (hex bytes)
81 36 AA 30
RFC 5137
\u'2050'
Bash and Zsh inside echo -e
\u2050
C and C++
\u2050
C#
\u2050
CSS
\002050
Excel
=UNICHAR(8272)
Go
\u2050
JavaScript
\u2050
Modern JavaScript since ES6
\u{2050}
JSON
\u2050
Java
\u2050
Lua
\u{2050}
Matlab
char(8272)
Perl
"\x{2050}"
PHP
\u{2050}
PostgreSQL
U&'\2050'
PowerShell
`u{2050}
Python
\u2050
Ruby
\u{2050}
Rust
\u{2050}
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