It has two very different meanings, that you would have to distinguish by context. One meaning is just expressing that we have limitations. If you don't know something, that's just tough, you don't know it and you have to live with that. You don't have information if you don't have that information. The other meaning is that not only are there gaps in our knowledge, but often we don't even know what the gaps in our knowledge are. I don't know how to speak Finnish. That's a gap in my knowledge that I know about. I know that I don't know how to speak Finnish. But there are gaps in my knowledge that I'm not even aware of. That's where you can say "You don't know what you don't know" meaning that you don't even know what knowledge you are missing.
I had this thought too.