The most common and most likely answer to this crossword clue is the 5 letter word BRASS
I've seen this crossword clue in The Times
B
R
A
S
S
More clues leading to the result BRASS
Buddy explains!

The straight part
We know that "High-ranking officials/orchestra members" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case high-ranking officials/orchestra members = brass.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 BRASS mean?
BRASS noun- A metallic alloy of copper and zinc used in many industrial and plumbing applications.
- A class of wind instruments, usually made of metal (such as brass), that use vibrations of the player's lips to produce sound; the section of an orchestra that features such instruments
- Spent shell casings (usually made of brass); the part of the cartridge left over after bullets have been fired.
- The colour of brass.
- (used as a singular or plural noun, metonym) High-ranking officers.
- A brave or foolhardy attitude; impudence.
- Money.
- Inferior composition.
- To coat with brass.
- Made of brass, of or pertaining to brass.
- Of the colour of brass.
- Impertinent, bold: brazen.
- Bad, annoying; as wordplay applied especially to brass instruments.
- Of inferior composition.
- Brass in pocket; money.
- A brass nail; a prostitute.
- Brass monkey; cold.