Quick answer
Refusing correction costs money and standing. Accepting it earns respect, which most people expect to work the other way around.
Read both lines
The NKJV footnotes "disdains" as literally ignores, and that is milder and more accurate than contempt: this man does not argue with correction, he simply does not act on it. The word for what he ignores is musar again, the chapter's framing term. The second line contains the counterintuitive half. Being corrected feels like a loss of standing, and the verse says the person who takes it well ends up honored, which matches 9:8's claim that a wise man loves whoever rebukes him. The book keeps insisting that the shortest route to respect runs through being teachable.
Related: Proverbs 9:8 · Proverbs 13:1 · Proverbs 15:31–32
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.