Time out for parasite (4)
I believe the answer is:
mite
'parasite' is the definition.
(thesaurus)
'time out' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'time' with letters rearranged gives 'MITE'.
'for' is the link.
(Other definitions for mite that I've seen before include "Microscopic creature" , "The Biblical widow's offering" , "Microscopic animal" , "Very small creature or child" , "Old piece" .)