May, perhaps, initially meet on Thursday? (5)
I believe the answer is:
month
'may' is the definition.
(I've seen this in another clue)
'initially meet on thursday?' is the wordplay.
'initially' indicates taking the first letters.
'thursday?' becomes 'Th' (common abbreviation).
The first letter of 'meet' is 'm'.
'm'+'on'+'th'='MONTH'
'perhaps' is the link.
(Other definitions for month that I've seen before include "Four-week period" , "Period of time" , "Moon's period" , "December, say" , "Eg, February" .)