Cheese making wise man race (4,5)
I believe the answer is:
sage derby
'cheese' is the definition.
(I've seen this before)
'wise man race' is the wordplay.
'wise man' becomes 'sage' (sage is a kind of wise man).
'race' becomes 'derby' (I've seen this before).
'sage'+'derby'='SAGE DERBY'
'making' acts as a link.
(Other definitions for sage derby that I've seen before include "Food" , "Greenish cheese" , "Green-veined cheese" , "Cheese made with herb" .)