Issue of time off (4)
I believe the answer is:
emit
'issue' is the definition.
(both can mean to give out or radiate)
'time off' is the wordplay.
'off' is an anagram indicator.
'time' is an anagram of 'EMIT'.
'of' is the link.
(Other definitions for emit that I've seen before include "Give out (eg light)" , "Throw out" , "Broadcast" , "Exhale" , "Sent" .)