E. Cobham Brewer 18101897. Dictionary of Phrase and Fable. 1898.
Left in the lurch; superseded. In cards, when there are too many for a game (say whist), it is customary for the players to cut out after a [rubber], in order that another player may have a turn. This is done by the players cutting the cards on the table, and the lowest turn-up gives place to the new hand, who supersedes him, or takes his place.
It does not refer to cutting out a ship from an enemys port.
He is cut out for a sailor. His natural propensities are suited for the vocation. The allusion is to cutting out cloth, etc., for specific purposes.