Low satellite? Not quite (3)
I believe the answer is:
moo
'low' is the definition.
(both can mean to make the noise of a cow)
'satellite? not quite' is the wordplay.
'satellite?' becomes 'moon' (moon is a kind of satellite).
'not quite' means to remove the last letter (most but not all of the word).
'moon' with its last letter taken off is 'MOO'.
(Other definitions for moo that I've seen before include "Irritating woman" , "Guernsey noise?" , "Low (of cattle)" , "Bovine low" , "Cow's call" .)