1520s, "slenderly, slimly;" 1590s, "in a small degree or measure," from slight (adj.) + -ly (2). It is attested also from 1590s as "with little respect or ceremony," but OED marks this as "rare."
Entries linking to slightly
slight adj.
early 14c., "flat, smooth, sleek; hairless," originally northern according to OED and probably from a Scandinavian source akin to Old Norse slettr "smooth, sleek," from Proto-Germanic *slikhtaz "slippery; flat, level, plain" (source also of Old Saxon slicht; Old Frisian sliucht, Low German slicht "smooth, plain common;" Old English -sliht "level," attested in eorðslihtes "level with the ground;" Old Frisian sliucht "smooth, slight," Middle Dutch sleht "even, plain," Old High German sleht, Gothic slaihts "smooth"), probably from a collateral form of PIE *sleig- "to smooth, glide, be muddy," from root *(s)lei- "slimy" (see slime (n.), and compare slick (v.)).
The original sense is obsolete. The evolution probably is from "smooth" (c. 1300), to "slim, slender; of light texture," hence "not good or strong; insubstantial, trifling, inferior, insignificant" (early 14c.). The meaning "small in amount" is from 1520s.
The sense of German cognate schlecht developed from "smooth, plain, simple" to "bad, mean, base," and as it did it was replaced in the original senses by schlicht, a back-formation from schlichten "to smooth, to plane," a derivative of schlecht in the old sense [Klein]. English slight also had the same tendency, and 15c.-17c., used of persons, could mean "humble, low; of little worth or account."
-ly 2
common adverbial suffix, forming from adjectives adverbs signifying "in a manner denoted by" the adjective, Middle English, from Old English -lice, from Proto-Germanic *-liko- (cognates: Old Frisian -like, Old Saxon -liko, Dutch -lijk, Old High German -licho, German -lich, Old Norse -liga, Gothic -leiko); see -ly (1). Cognate with lich, and identical with like (adj.).
Weekley notes as "curious" that Germanic uses a word essentially meaning "body" for the adverbial formation, while Romanic uses one meaning "mind" (as in French constamment from Latin constanti mente). The modern English form emerged in late Middle English, probably from influence of Old Norse -liga.