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I don’t think it’s a wordplay with the r-word, but rather a reference to the famous Shakespeare quote: “Hoist with his own petard”. It’s become an English proverb. (A petard is a smallish bomb)

From péter, to fart.

Possibly entered the language as a saying due to Shakespeare being scurrilous.

It's a play on the word petard

I found this background useful as a non-native speaker: https://en.wikipedia.org/wiki/Hoist_with_his_own_petard

Hoist (thrown in the air) by your own petard (bomb) is a common phrase.

You have been Hoisted with your own retard