The most common and most likely answer to this crossword clue is the 5 letter word REPEL
I've seen this crossword clue in The Guardian
R
E
P
E
L
More clues leading to the result REPEL
- Be in state of shock about parking and drive off
- Drive back and look on return journey to secure parking
- Resist outcast from the east
- Disgust, as outcast knocked over
- Drive away partner, initially, during folk dance
- Refuse to accept some dancing around piano
- Drive back from dance without Penny
- Reject revolutionary outcast
- Learner, following two lessons, to drive off
- Agent the Spanish hold off
Buddy explains!

The straight part
We know that "hold off" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case hold off = repel.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does REPEL mean?
REPEL verb- To turn (someone) away from a privilege, right, job, etc.
- To reject, put off (a request, demand etc.).
- To ward off (a malignant influence, attack etc.).
- To drive back (an assailant, advancing force etc.).
- To force away by means of a repulsive force.
- To cause repulsion or dislike in; to disgust.
- To save (a shot).