Frolicking can end soon — there's very little time (10)
I believe the answer is:
nanosecond
'very little time' is the definition.
'nanosecond' can be an answer for 'time' (I have seen 'short time' mean 'nanosecond' so perhaps 'time' could also mean 'nanosecond'). I am not certain of the 'very little' bit.
'frolicking can end soon' is the wordplay.
'frolicking' indicates anagramming the letters.
'can'+'end'+'soon'='canendsoon'
'canendsoon' is an anagram of 'NANOSECOND'.
'there's' acts as a link.
Can you help me to learn more?
(Other definitions for nanosecond that I've seen before include "Only a little flash" , "very brief time" , "A very short interval of time" , "trice" , "instant?" .)