Assume the point to be $P(h,k)$ whose polar w.r.t. parabola $y^2 = 4ax$ is tangent to circle $x^2 +y^2 = 4a^2$, say at $Q(\alpha,\beta)$. Then writing $T = 0$ (equation of polar) for $P$ w.r.t. parabola $y^2 = 4ax$, we get
$yk = 4a\left(\frac{x + h}{2}\right)\Rightarrow yk = 2a(x + h)\Rightarrow 2ax-ky+2ah = 0\;...(1)$
Now equation of tangent to circle $x^2 +y^2 = 4a^2$ at $Q$ is $$ \alpha x + \beta y -4a^2 = 0\; ...(2) $$
Since $(1)$ and $(2)$ represent equation of same straight line, hence by comparison,
$ \frac{\alpha}{2a} = \frac{\beta}{-k} = \frac{-4a^2}{2ah} $ $\Rightarrow \alpha = {-4a^2 \over h} ;\beta = {2ak \over h}$
Also $\alpha^2 + \beta^2 = 4a^2 \Rightarrow \left({-4a^2 \over h} \right)^2 + \left({2ak \over h }\right)^2 = 4a^2 \Rightarrow 4a^2 + k^2 = h^2 \Rightarrow h^2 - k^2 =4a^2 $
Thus the locus of $P(h,k)$ is $x^2 -y^2 = 4a^2$.