We take (assume) vector $AD$ given is directed as shown, that is, essentially it is given as the resulting sum of vectors $ AB,BC,CD $, i.e.,
$$ \overrightarrow{AB} +\overrightarrow{BC}+ \overrightarrow{CD} = \overrightarrow{AD} \tag 1 $$

We verify this proposition with direct dot products of position vectors taken with $(x,y) $ components. Position vectors are shown without overhead arrows.
$$ (ab,bc,cd,ad)= [(p,q),(r,s),(u,v),(p+r+u,q+s+v)]\;\tag1$$
$$ ac= (p+r,q+s),bd=(r+u),(s+v) \tag 2 $$
then dot vector product sums of opposite sides
$$ab.cd + bc.ad =\tag 3$$
$$ p r + r^2 + q s + s^2 + p u + r u + q v + s v \tag 4$$
and dot vector product sums of diagonals
$$(ac.bd)=(ab + bc).(bc + cd)=$$
$$ p r + r^2 + q s + s^2 + p u + r u + q v + s v \tag 5 $$
Since (4) and (5) are same, the assumed sign convention in (1) is validated and then we have the vector sign convention:
$$\overrightarrow{BC} \cdot \overrightarrow{AD}\ -\ \overrightarrow{CA} \cdot \overrightarrow{BD}\ +\ \overrightarrow{AB} \cdot \overrightarrow{CD}=0 \tag 6 $$
The central diagonal products has different signs for $ca$ and $ac$ so these relations are identical and the middle term is left as it is for consistency. Moreover the diagonal product term is given negative in Ptolemy Inequality the Wiki reference, retaining sign as it is more appropriate.
In search of a geometrical significance
The given relation is a beautiful 3-space vectorisation /generalisation of the Ptolemy theorem which deals with scalars arising from dot products.
This post has prompted me to define New Oval shapes here in the plane allied to the Circle... that circumscribe non-cyclic quadrilaterals having the new non-zero constant as property $e$.
This approach resulted in Ptolemy theorem generalization in the plane (where the New Ovals circumscribe plane quadrilaterals whose sides product sum and diagonals product sum bears a constant ratio $e.$

- It has been verified by the OP and me that the given scalar result from dot products are valid in $\mathbb R^3 $ also. Hece it must be concluded the given vector dot products relation is valid for a skew quadrilateral sitting inside a sphere (vertices lie on the sphere). This is a clear possible geometrical interpretation.
$$\overrightarrow{BC} \cdot \overrightarrow{AD}\ -\ \overrightarrow{CA} \cdot \overrightarrow{BD}\ +\ \overrightarrow{AB} \cdot \overrightarrow{CD}\ =0 \tag 7 $$
The above property has been verified in Mathematica vector computation for a zero sum taking four arbitrary points $(A,B,C,D)$ on a unit sphere computed and sketched thus:

This and what follows is strictly not part of answer, but mentioned for the sake of continuity of the subject.
It is very exciting to imagine that we could even validate in $\mathbb R^3 $ * non-spherical Ovaloid surfaces circumscribing skew quadrilaterals* obeying the modified ( by me) Ptolemy inequality ...using the relation that includes $e$:
$$\overrightarrow{BC} \cdot \overrightarrow{AD}\ -\ \overrightarrow{CA} \cdot \overrightarrow{BD}\ +\ \overrightarrow{AB} \cdot \overrightarrow{CD}\ = e \tag 8 $$
Further on it is not difficult to demonstrate that the Ovaloid surface circumscribes a skew quadrilateral and the given scalar product including non-zero right-hand side $e$.
Finally imho the relation is having a physical significance in Mechanics rather than the asked geometrical interpretation.
Force equilibrium is easily established by zero vector sum. When right hand side vanishes the moment equilibrium exists making for * full static equilibrium of forces and moments*.
$$ \sum F_i=0; \sum M_i=0 ;\tag9$$
When it does n't, i.e., with RHS =$e$ there is a constant unbalanced moment in dynamic equilibrium.
$$ \sum F_i=0;\sum M_i= e ;\tag{10}$$
To establish it with finality within time available before bounty is tough for me, so this may be considered fwiw in conceptual relation to Newtonian Mechanics.
Thanks for the indulgence.. Regards