The most common and most likely answer to this crossword clue is the 10 letter word GENUFLECTS
I've seen this crossword clue in Financial Times
G
E
N
U
F
L
E
C
T
S
Buddy explains!
The straight part
We know that "Shows respect" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case shows respect = genuflects.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 GENUFLECTS mean?
GENUFLECTS verb- To bend the knee, as in servitude.
- To briefly touch one knee to the ground, typically associated with religious worship.
- To behave in a servile manner; to grovel.