We see two Fleur de Lis. And two capital H. Then the clothing represent the style from 1570 to around 1600. Fleur de lis is the coat of arms of the French Burbon kings. First Burbon king was Henri de Navarre, king from 1589 to 1610.
The architecture looks very medival French, could represent one of the former city gates of Paris.
I tend to interpret this as the Henri IV entering Paris as king.
https://en.wikipedia.org/wiki/Henry_IV_of_France
Regards
Jörg