Shrewd cut in each rise (5)
I believe the answer is:
acute
'shrewd' is the definition.
(I've seen this in another clue)
'cut in each rise' is the wordplay.
'in' is an insertion indicator.
'each' becomes 'ea' (abbreviation).
'rise' says the letters should be written backwards.
'ea' back-to-front is 'ae'.
'cut' placed inside 'ae' is 'ACUTE'.
(Other definitions for acute that I've seen before include "Sharp; type of accent" , "Short and severe" , "Sharp as of mind - or pain" , "Quick-witted" , "Grave" .)