Without any context to indicate something different, I'd interpret 'sleep late' to mean 'wake up late'. In other words, 'sleep longer into the morning than usual'.
Hi, it's simple if you know what "stay up late" means. It means to stay up until it's late, so you go to bed later than usual. So "sleep late" is "to sleep until it's late", that is, you wake up later than usual.
Also, note that "sleep late" is different from "oversleep." You can "sleep late" intentionally, but to "oversleep" means to sleep longer than you intended (and maybe be late for something as a result.) I like to sleep late on the weekend. I'm sorry I was late for the 8 a.m. meeting -- I forgot to set my alarm clock and I overslept.