Take the lead but quietly drop back later (7)
I believe the answer is:
precede
'take the lead' is the definition.
(I've seen this before)
'quietly drop back later' is the wordplay.
'quietly' becomes 'p' (musical symbol).
'drop back' becomes 're-cede' (I've seen this in another clue).
'later' says to put letters next to each other.
'p'+'recede'='PRECEDE'
'but' acts as a link.
(Other definitions for precede that I've seen before include "Come before (something)" , "Forerun" , "Go before in time or order" , "Go before (someone)" , "Lead the way" .)