Diamond heads for royal head of monarch — belatedly (5)
I believe the answer is:
rhomb
'diamond' is the definition.
(I know that diamond can be written as rhomb)
'heads for royal head of monarch belatedly' is the wordplay.
'heads for' indicates taking the first letters.
The first letters of 'royal head of monarch belatedly' is 'RHOMB'.
(Other definitions for rhomb that I've seen before include "Figure on plane" , "Equilateral parallelogram" , "Quadrilateral with four equal sides" , "Crystal with six faces having parallel edges" , "Crystal shape" .)