Green’s Dictionary of Slang

(UK society) a curt, barely polite farewell; thus as v., to fall out, to quarrel, to ‘cut’.

[1796		Grose Classical Dict. of the Vulgar Tongue (3rd edn) n.p.: P.P C. An inscription on the visiting cards of our modern fine gentleman, signifying that they have called pour prendre conge, i.e. ‘to take leave,’ This has of late been ridiculed by cards inscribed D.I.O. i.e. ‘Damme, I’m off.’].
1827		Guards 38: A the Apothecary’s [...] our Exquisite merely dropped his card, with P.P.C.
1843		R.S. Surtees Handley Cross (1854) 429: Mrs Jorrocks and Co. to follow as soon as Mrs Jorrocks had paid her bills and left her P.P.C.’s.
[1853		Dickens ‘Slang’ in Household Words 24 Sept. 76/2: The abominable slang practice of writing P.P.C. on a card of leave-taking [...] is gone out of fashion].
1909		J. Ware Passing Eng. of the Victorian Era 191/1: P. P. C. (Middle-class). Snappish good-bye. Of course from departure card, Pour prendre congé. [Ibid.] P. P. C., To (Soc., 1880 on). To quarrel and cut.
1916		‘Sapper’ ‘The Motor Gun’ in Men, Women & Guns 45: ‘Halloa, Englishman,’ he said; ‘come to leave a card’ ‘Quite right, Boche,’ I answered. ‘A p.p.c. one’.