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The "Ranked Fighters" are the worldwide numbers, not just the UFC.
To explain what the "Adjusted Fights" column means I'll use Women's Strawweight as an example:
There are 50 ranked fighters in the division.
Which means the division represents 1.4% of all ranked fighters in the world.
For equal representation, that means the division should account for 1.4% of all fights.
1.4% of all fights in the UFC equals 6; the division is grossly over-represented at the moment since it had 34 fights in 2017.
TLDR: The adjusted column shows how many fights the division should have based on how many ranked fighters exist in the division.
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