Levelling up happening late in the day (7)
I believe the answer is:
evening
This might be a double definition.
'levelling up happening' is the first definition.
'evening' can be an answer for 'levelling' ('even' can be a synonym of 'level'). I am not sure about the 'up happening' bit.
'late in the day' is the second definition.
(time of day)
Can you help me to learn more?
(Other definitions for evening that I've seen before include "twilight" , "When day becomes night" , "Levelling the score" , "Calming" , "time for putting feet up?" .)