How hair may be cut - about time! (6)

I believe the answer is:

parted

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'cut about time' is the definition.
Both the answer and definition are adjectives. Maybe they are linked in a way I don't understand?

I don't understand the rest of the clue.

Can you help me to learn more?

(Other definitions for parted that I've seen before include "left" , "Divided or went separate ways" , "Divided and said goodbye" , "Divided, broken" , "Divided or separated" .)

I've seen this clue in The Independent.

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