The most common and most likely answer to this crossword clue is the 4 letter word GASH
I've seen this crossword clue in The Times
G
A
S
H
Buddy explains!

The straight part
We know that "Cut" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cut = gash.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 GASH mean?
GASH noun- A deep cut.
- A vulva.
- A woman
- (British Royal Navy) Rubbish, spare kit
- Rubbish on board an aircraft
- Unused film or sound during film editing
- Poor quality beer, usually watered down.
- To make a deep, long cut; to slash.
- Of poor quality; makeshift; improvised; temporary; substituted.
- Ghastly; hideous