First, there is a hidden connection between the lily and Solomon because lilies decorated the columns of his temple. In Greek, the word "lily" has the same root as "judge." In Jesus's era, people were judged by their clothing. This verse makes the social context of clothing, introduced in the previous verse, Matthew 6:28, much clearer. The key connection here is between the flowers of the previous verse, the judgment of others, and the reputation of the wisest Jewish king.
The Greek word translated as "glory/splendor" primarily means, as a noun, "expectation" or "reputation." It has a variety of meanings as a verb, but only in the NT is it commonly rendered as "glory." It is not the Greek word that means "splendor," "glory," or "majesty" in a kingly sense or any of the Greek words that mean "glory" in the sense of "brilliance." The English word that seems to capture most of the meanings of this word is "recognition" both in the sense of seeing something familiar and honoring someone. In Christ's time, people and their roles were recognized by their clothing. So the connection between the context, clothing, and recognition was much clearer in Christ's time.
The verb translated as "arrayed" has means "to throw around oneself," "surround," and "to put on" but it is not the verb translated as "put on" in Matthew 6:25. In Jesus's era, the outer coats, capes, and shawls were what indicated status. Those whose were wrapped around or draped, so perhaps "draped" or "wrapped" captures the idea in English. However, since Solomon's temple columns were decorated with lilies, the "surround himself" has a double meaning referring tot those columns.