The woman finds Elizabeth transparent (5)
I believe the answer is:
sheer
'transparent' is the definition.
('sheer' can be a synonym of 'transparent')
'the woman finds elizabeth' is the wordplay.
'the woman' becomes 'she' (I've seen this before**).
'finds' means one lot of letters go next to another.
'elizabeth' becomes 'er'.
'she'+'er'='SHEER'
(Other definitions for sheer that I've seen before include "Very steep - may apply to 4" , "Outright" , "Completely" , "avoid an unpleasant thing" , "Absolute - precipitous" .)