Translation:Who is it?
(方 can be a respectful way of saying either person or direction.)
So you can see that these words are different readings of the same kanji, except for the commonly used あなた. The 貴 kanji in あなた is an honorific title (i.e. lord) rather than a (this/that/over there) location identifier.
Thank you for stating this, it is really helpful! Helps us know which Kanji is unnecessary to learn.