Crossword Genius

Title of monarch with time garners zero respect (6)

Ross

I believe the answer is:

homage

I'm a little stuck... Click here to teach me more about this clue!

'respect' is the definition.
(I know that homage is a type of respect)

'title of monarch with time garners zero' is the wordplay.
I cannot really see how this works, but
'of' could be 'o' and 'o' is found within the answer.
'monarch' could be 'hm' (abbreviation for His or Her Majesty) and 'hm' is located in the leftover letters.
'time' could be 'age' (an age is a period of time) and 'age' is found within the answer.
This accounts for all the letters.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for homage that I've seen before include "Formal expression of loyalty to a ruler - pay it" , "Acknowledgment of superiority" , "Dutiful reverence" , "Formal expression of respect" , "Public honour and respect" .)

I've seen this clue in The Independent.
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