Biden and Trump, say, sounding like excessively croaky people (3-5,4)
I believe the answer is:
two-horse race
'biden and trump' is the definition.
I don't know anything about this answer so I cannot judge whether it can be defined by this definition.
'sounding like excessively croaky people' is the wordplay.
'sounding like' indicates a 'sounds like' (homophone) clue.
'excessively' becomes 'too' (to too great a degree).
'croaky' becomes 'horse' (I can't justify this - if you can you should give a lot more credence to this answer).
'people' becomes 'race' (people can mean a national group or race).
'too' sounds like 'two'.
'two'+'horse'+'race'='TWO-HORSE RACE'
'say' is the link.
Can you help me to learn more?
(Another definition for two-horse race that I've seen is " Duopolistic competition".)