Complex sentence: In 1957, as Presley's fame was soaring, he received a draft notice from the Memphis Draft Board, but was given a deferment so he could finish his latest film production, "King Creole".
Split into simpler sentences: In 1957, with his fame soaring, Presley received a draft notice from the Memphis Draft Board. He was given a deferment to finish his latest film production, "King Creole".