The most common and most likely answer to this crossword clue is the 4 letter word FIRE
I've seen this crossword clue in The Daily Telegraph
F
I
R
E
More clues leading to the result FIRE
- Bit of earth on tree shoot
- If returning oarsman holds record it shows strength
- Sack female over anger
- Female anger on account of which the sparks may fly?
- Axe tree down to earth
- Passion Tree, associated with ecstasy
- Sack with wood on bottom of grate
- Document exchanges hands — it’s too hot to handle
- Dismiss bishop, no longer part of the cloth
- See 21A
Buddy explains!

The straight part
We know that "excitement" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case excitement = fire.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 FIRE mean?
FIRE noun- A (usually self-sustaining) chemical reaction involving the bonding of oxygen with carbon or other fuel, with the production of heat and the presence of flame or smouldering.
- An instance of this chemical reaction, especially when intentionally created and maintained in a specific location to a useful end (such as a campfire or a hearth fire).
- The occurrence, often accidental, of fire in a certain place, causing damage and danger.
- The aforementioned chemical reaction of burning, considered one of the Classical elements or basic elements of alchemy.
- A heater or stove used in place of a real fire (such as an electric fire).
- The elements necessary to start a fire.
- The bullets or other projectiles fired from a gun.
- Strength of passion, whether love or hate.
- Liveliness of imagination or fancy; intellectual and moral enthusiasm.
- Splendour; brilliancy; lustre; hence, a star.
- A severe trial; anything inflaming or provoking.
- Red coloration in a piece of opal.
- To set (something, often a building) on fire.
- To heat as with fire, but without setting on fire, as ceramic, metal objects, etc.
- To drive away by setting a fire.
- To terminate the employment contract of (an employee), especially for cause (such as misconduct or poor performance).
- To shoot (a gun or analogous device).
- To shoot a gun, cannon, or similar weapon.
- To shoot; to attempt to score a goal.
- To cause an action potential in a cell.
- To forcibly direct (something).
- (computer sciences, software engineering) To initiate an event (by means of an event handler).
- To inflame; to irritate, as the passions.
- To animate; to give life or spirit to.
- To feed or serve the fire of.
- To light up as if by fire; to illuminate.
- To cauterize.
- To catch fire; to be kindled.
- To be irritated or inflamed with passion.
- Amazing; excellent.