<p>The exactly solvable spin-1/2 Kitaev model on a honeycomb lattice has drawn significant interest, as it offers a pathway to realizing the long-sought-after quantum spin liquid. Building upon the Kitaev model, Yao and Lee introduced another exactly solvable model on an unusual star lattice featuring non-abelian spinons. The additional pseudospin degrees of freedom in this model could provide greater stability against perturbations, making this model appealing. However, a mechanism to realize such an interaction in a standard honeycomb lattice remains unknown. Here, we provide a microscopic theory to obtain the Yao-Lee model, on a honeycomb lattice by utilizing strong spin-orbit coupling of anions edge-shared between two <i>e</i>_<i>g</i> ions in the exchange processes. This mechanism leads to the desired bond-dependent interaction among spins rather than orbitals, unique to our model, implying that the orbitals fractionalize into gapless Majorana fermions and fermionic octupolar excitations emerge. Since the conventional Kugel-Khomskii interaction also appears, we examine the phase diagram, including these interactions, using classical Monte Carlo simulations and exact diagonalization techniques. Our findings reveal a broad region of disordered states that break rotational symmetry in the bond energy, suggesting intriguing behavior reminiscent of a spin-orbital liquid.</p>