Just guessing, but that looks like it could be an illustration of Herod the Great's attack on rebels who hid in the Arbal caves after a Revolt in 38 BC.

...so Herod willingly dismissed Silo to go to Ventidius, but he made an expedition himself against those that lay in the caves. Now these caves were in the precipices of craggy mountains, and could not be come at from any side, since they had only some winding pathways, very narrow, by which they got up to them; but the rock that lay on their front had beneath it valleys of a vast depth, and of an almost perpendicular declivity; insomuch that the king was doubtful for a long time what to do, by reason of a kind of impossibility there was of attacking the place. Yet did he at length make use of a contrivance that was subject to the utmost hazard; for he let down the most hardy of his men in chests, and set them at the mouths of the dens. Now these men slew the robbers and their families, and when they made resistance, they sent in fire upon them [and burnt them]; and as Herod was desirous of saving some of them, he had proclamation made, that they should come and deliver themselves up to him; but not one of them came willingly to him; and of those that were compelled to come, many preferred death to captivity. And here a certain old man, the father of seven children, whose children, together with their mother, desired him to give them leave to go out, upon the assurance and right hand that was offered them, slew them after the following manner: He ordered every one of them to go out, while he stood himself at the cave's mouth, and slew that son of his perpetually who went out. Herod was near enough to see this sight, and his bowels of compassion were moved at it, and he stretched out his right hand to the old man, and besought him to spare his children; yet did not he relent at all upon what he said, but over and above reproached Herod on the lowness of his descent, and slew his wife as well as his children; and when he had thrown their dead bodies down the precipice, he at last threw himself down after them. By this means Herod subdued these caves, and the robbers that were in them. "

Josephus Wars, 1.16.4-5.

I'm not familiar with that specific engraving, but I believe it's supposed to be a tolleno (plural tolleni) a Roman siege device that was basically a crane used to hoist baskets of soldiers up onto enemy walls. You can see a different engraving of it in A Manual of Roman Antiquities for comparison.