This weapon consists of a foot-long double-edged blade, with another smaller, curved hook-blade sticking out the side like a rooster’s spur. The blade is strung to a large iron hoop with 10-foot length of rope.
Benefit: The blade can be used as an off-hand melee weapon or thrown like a dagger, while the rope and circlet can be whipped around and swung at opponents as a bludgeoning reach weapon.
Okay, I can throw the blade end like a dagger, which seems to imply that I can do so while still holding the rope. But the range increment is 20' while the rope is 10'. This seems to imply that I don't have to let go of the rope; it might communicate what would happen if I had.
Since this is a single weapon, can you in fact still be wielding the weapon after you throw it, or at least hanging on to the rope end? Would you be able to retrieve the knife end, and what sort of action would that be? Would you need an action to retrieve it at all?
As RAW, you would literally throw the weapon when you want to use the range increments. Within 10' you would just use it as a reach weapon.
Even that is somewhat debatable...since there is almost no details on the weapon description. There are many videos showing how you a kyoketsu shoge , hell even in the recent Daredevil series, one of the villain uses one if you want more details.