शरीरारम्भकभूतानां भरणात् प्राणरूपधरः शरीरभूतभृत् ।पालकत्वात् भोक्ता; परमानन्दसंदोहसंभोगाद्वा भोक्ता ॥
In plain words
He holds up the elements that go into building the body — he is there as the breath itself. So: Śarīrabhūtabhṛt, bearer of the body's elements. And because he protects and tends what he carries, he is Bhoktā. Or else because what he enjoys is the whole undivided mass of paramānanda, supreme bliss — Bhoktā, the enjoyer.
Close to the Sanskrit
From the bearing of the elements that constitute the body, he who bears the form of prāṇa is Śarīrabhūtabhṛt. From being the protector, Bhoktā; or from the complete enjoyment of the whole mass of supreme bliss, Bhoktā.