The most common and most likely answer to this crossword clue is the 7 letter word ENNOBLE
I've seen this crossword clue in Financial Times
E
N
N
O
B
L
E
More clues leading to the result ENNOBLE
- King George leaves French city, receiving knight to elevate
- Honour covered up by genteel bonnets
- Honour rise of the Spanish maid in Paris
- Raise meaning of belief occasionally
- Knight coming over in pastel bonnet
- Coming up in the Spanish-German city, Earl to get more distinguished
- Elizabeth knights old boy, long having earned top honour
- Dignify East German city overthrown by the French
- Distinguish between Lenny, Toby and Glen’s coats
- To raise some children? No blessing
Buddy explains!

The straight part
We know that "Knight" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case knight = ennoble.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 ENNOBLE mean?
ENNOBLE verb- To bestow with nobility, honour or grace.
- To perform on a fabric the industrial processes of dry-cleaning, printing and embossing, and sizing and finishing.