Point to delayed cheer (5)
I believe the answer is:
elate
'cheer' is the definition.
(I've seen this in other clues)
'point to delayed' is the wordplay.
'point' becomes 'e' (E is an example**).
'to delayed' becomes 'late' (I've seen this before).
'e'+'late'='ELATE'
(Other definitions for elate that I've seen before include "Overjoy" , "Inspirit, make exultant" , "cheer" , "Uplift (mood)" , "Make delighted or proud" .)