Icon Conditional formatting by measure in table do not encode

Hi, Anonymous 

I have a similar situation here. It seems that field value for icon conditional formating doesn't support for unicode symbol and svg xml (even they can work normally on my table measure column).

As a workaround , you can try to use icon IDs(there are over 60 icons in the built-in icon set)  or img url to replace unicode symbols /svg xml. 
releted thread: https://community.powerbi.com/t5/Desktop/What-are-the-icon-IDs-In-July-update/m-p/752053 

Sample:

VCU icon condition1 =
SWITCH (
    TRUE (),
    [VCU] < 0, "https://image.emojipng.com/618/3323618.jpg", // url
    [VCU] > 0, "https://emojigraph.org/media/emojidex/red-triangle-pointed-down_1f53b.png",
    "4CircleLow" //iconid
)

In fact ,you can also try to format by rules without conditional measure for icon formatting.

Best Regards,
Community Support Team _ Eason