Parent swallowing tablet late (4)
I believe the answer is:
dead
'late' is the definition.
('dead' can be similar in meaning to 'late')
'parent swallowing tablet' is the wordplay.
'parent' becomes 'dad' (dad is a kind of parent).
'swallowing' indicates putting letters inside.
'tablet' becomes 'e' (E can mean ecstasy or an ecstasy tablet).
'dad' placed around 'e' is 'DEAD'.
(Other definitions for dead that I've seen before include "Six feet under" , "Lookalike" , "cold" , "no longer with us" , "Pushing up the daisies" .)