1To act a role; to play a part (used as a variant of 演じる, somewhat formal or literary).
彼は舞台で主人公を演ずることになった。
He was cast to play the lead role on stage.
若い頃からさまざまな役を演ずる経験を積んだ。
From a young age he gained experience playing various roles.
映画で悪役を演ずるために、体重を増やした。
He put on weight to play the villain in the movie.
2To perform a play or production; to put on (a performance or show).
小学校の学芸会で古典劇を演ずる予定だ。
They plan to stage a classic play at the elementary school's cultural festival.
劇団は来月、新作を演ずることを発表した。
The theatre troupe announced they will perform a new work next month.
彼女はピアノ伴奏付きで短い劇を演ずる。
She will perform a short play accompanied by piano.
3To pretend (e.g., to appear as something one is not) or, in another sense, to disgrace oneself/commit a blunder; to put on an appearance.
彼は良い父親を演ずるふりをしているだけだ。
He's only pretending to be a good father.
会議で不用意な発言をして、会社の面目を演ずる結果になった。
By making an indiscreet remark at the meeting, he ended up disgracing the company.