Dreadful bit of misdirection (4)
I believe the answer is:
dire
'dreadful' is the definition.
(synonyms)
'bit of misdirection' is the wordplay.
'bit of' says the answer is hidden in the clue.
'DIRE' can be found hidden inside 'misdirection'.
(Other definitions for dire that I've seen before include "Dreadful; grim" , "Catastrophic" , "Really awful kind of ride" , "to speak (13) [FRENCH]" , "'Dreadful, terrible (4)'" .)