Emptiness refers to the understanding that substance, meaning phenomenal appearances, does not have an independent reality of its own, outside the reality of consciousness.
There is no independent physical reality outside the reality of consciousness.
Forms are empty means they have no independent reality. Their substance is not made of a material reality.

Reality is noumenal. Non-phenomenal.
The reality of form is emptiness, non-phenomenal consciousness.

‘Form is emptiness, emptiness is form’ is most often misunderstood.