Ponder making cut around artist’s wall painting (5)
I believe the answer is:
mural
'wall painting' is the definition.
('mural' can be a synonym of 'wall painting')
'ponder making cut around artist's' is the wordplay.
'ponder' becomes 'mull' ('mull' can be a synonym of 'ponder').
'making cut' means to remove the last letter.
'around' is an insertion indicator.
'artist' becomes 'ra' (Royal Academician, member of Royal Academy of Arts).
'mull' with its last letter taken off is 'mul'.
'mul' going around 'ra' is 'MURAL'.
(Other definitions for mural that I've seen before include "Large wall painting" , "Wall design" , "Wall art" , "Wall-painting" , "Drawing on a wall" .)