Exegesis:

paideusas oun auton apolusō ‘so after disciplining him I shall release (him).’ oun is inferential and the clause represents a concession to the accusers. Hence the clause is sometimes rendered as a proposal (cf. e.g. New English Bible), but it appears preferable to understand it as Pilate’s decision.

paideuō (also v. 22), ‘to educate,’ here ‘to discipline,’ by means of whipping, or scourging; probably meant as a euphemism.

Translation:

I will … chastise him, or, using a corresponding euphemism for beating or punishment, “teach him a (sharp) lesson” (An American Translation, Phillips), “after due correction” (The Four Gospels – a New Translation). Where such a rendering is not possible one can best say, ‘I will … scourge him, or, have him scourged,’ cf. on 18.33.

Release him, or, ‘make him go free,’ ‘let him go out (from prison).’

Quoted with permission from Reiling, J. and Swellengrebel, J.L. A Handbook on the Gospel of Luke. (UBS Handbook Series). New York: UBS, 1971. For this and other handbooks for translators see here . Make sure to also consult the Handbook on the Gospel of Mark for parallel or similar verses.