Fantasy where magic exists but is rare

With the notable exception of his first work, the Fionavar Tapestry. Say what you want about the trilogy - and you can say a lot - but it’s not “low magic”.

The anime “Ranma 1/2”. There are magical artifacts and locations, but the vast majority of people do no magic. Some of the magic is tied in to martial arts training, in that e.g. a person can study martial arts techniques so well that they can actually project their “ki” in a physical way.

“Very tragic story of young girl…”

Some disagreements here:

But the 2 practical magicians are the focus of the book, and they do a lot of extremely flashy stuff (especially Strange, who IIRC moves whole areas of landscape around as part of his work with Wellington’s forces on the continent).

The plot is driven by a prophecy; pretty much the whole way they’re interacting with supernatural elements of one sort or another. I love the book, but I wouldn’t categorize it as “low magic”.

I’d say PALADIN OF SOULS, at least, involves pretty high-powered magic. Dozens (?) of demonic possessions, plus a dead person kept alive beyond the grave, two name two.