Rival or industrious
Emileo is a rare variant of Emilio, which stems from the Roman family name Aemilius. It carries the dual connotations of being a 'rival' or 'striving' and 'industrious'. While Emilio is the standard Spanish and Italian form, the 'e' spelling is a modern phonetic variation.
Less common today
Emileo isn't in the latest US Top 1000. It last peaked at #5,739 in 2020.
US births per 5-year period, 1990βpresent (SSA data).