Possible meanings are 1) the overseer's children should obey and show respect to their father or 2) the overseer's children should show respect to everyone or 3) the overseer should show respect to those in his household as he leads them.
Paul uses a question to teach Timothy. AT: "he cannot take care of a church of God." or "he will not be able to lead a church of God." (See: [[rc://en/ta/man/translate/figs-rquestion]])
Here "church" refers to a local group of God's people. AT: "a group of God's people" or "the believers over whom he is in charge" (See: [[rc://en/ta/man/translate/figs-metonymy]])