Four half-men awkwardly holding hands inside four concentric bands.

[Koen G]

Diane recently pointed me towards a potentially relevant manuscript: You are not allowed to view links. Register or Login to view. 
The page I linked above shows a diagram which struck me as familiar, similar to You are not allowed to view links. Register or Login to view. . It is best seen in the full version, but I'll include an image:

   

In the Madrid MS, all four men are facing front and holding hands in a strange way. There is also no text in the diagram itself. But I found the similarities with the VM circle too great to ignore. In both diagrams there are four concentric bands surrounding the four men. The centre is split in four (with lines or text) assigning each man his quarter segment. There's also divisions in the bands, although in the VM these are fewer.

Likely someone with greater knowledge and skills than mine will be able to tell us what exactly this diagram represents (there's an accompanying text in the MS).

I vaguely recall that something like this may have been posted before but wasn't able to find it.

Also, on the left page there's a few more elements that recall of the VM drawings. These are more likely to be coincidences, but I will include them anyway. I feel much more confident about the relevance of the four-men diagram, but since these elements are on the page right next to it they may be worth noting.