The most common and most likely answer to this crossword clue is the 5 letter word LOCHS
I've seen this crossword clue in Financial Times
L
O
C
H
S
Buddy explains!

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 LOCHS mean?
LOCHS noun- A lake.
- A bay or arm of the sea.
- A medicine in a soft form taken by licking; a lambative, a linctus.