It's essentially a measure of the hurricane's overall power which is a factor of both its wind speed/central pressure and overall size. So its IKE can still go up as the minimum central pressure does. The surge is influenced by both factors size and wind speed/min central pressure as well, so even if Milton weakens in terms of wind/pressure but expands in size, the IKE can go up and the surge may be worse since more water is being moved overall. If it gets funneled into a bay or inlets it's made even worse.