We hear quiet bit (5)
I believe the answer is:
piece
'bit' is the definition.
(I know that bit can be written as piece)
'we hear quiet' is the wordplay.
'we hear' shows a homophone (sound like).
'quiet' becomes 'peace' (I've seen this before).
'peace' is a homophone of 'PIECE'.
(Other definitions for piece that I've seen before include "Separate part of a whole" , "A part of something" , "Bit - part" , "Component; portion" , "Section; firearm" .)