Both of those sentences would be grammatical (and make sense) if you used hyphenation, indicating an adjectival use:
- The by-you-searched implication of the word is as follows...
- The searched-by-you implication of the word is as follows...
That would make the essential component of each be:
The implication of the word is as follows . . .
The use of either by-you-searched or searched-by-you would be acting to qualify the noun implication.
Having said that, however, although understandable when used in that specific way, it would still be somewhat unusual. Nonetheless, adjectival compounds are used deliberately (and uniquely) for stylistic effect somewhat frequently. Still, I wouldn't recommend using either of those terms in such a way on a regular basis.