What does "make it up to you" mean here? Is it a phrasal verb?

Rebecca

To "make it up to someone" is an expression used when someone has made a mistake or hurt/inconvenienced someone, so they want to do something helpful or good to apologize or make them feel better. Ex: I'm sorry I was late. Let me make it up to you by paying for dinner. Ex: Steve forgot about his wedding anniversary, so he made it up to his wife by buying her flowers.