do you have a moment?; can you spare a little time?
Polite fixed phrase used to ask someone if they have a moment to talk. Often used when approaching a superior or stranger.
Excuse me, do you have a moment?
Would now be a good time to talk briefly?
Combination of ちょっと (a little, briefly) and よろしい (polite form of いい, good). The phrase literally asks 'is it all right for a little while?' and became a conventional polite way to request someone's time.