So for me there is high fantasy, which includes lots of fantastical elements, things like floating mountains, & running up a rainbow to speak with gods, forests that move, etc.
Low fantasy, not many fantastical elements. Mountains are mountains, rivers are rivers, & physics is boring
Then there is high magic, where the powers in place are grandiose, wizards can toss lightning & disappear with a sweep of the hand, all it takes is a bit of pixie dust or something else easy to get. Magically creatures are everywhere & magic is COMMON.
Low magic is where magic takes sacrifice & effort, for strange or “simple” magic effects. Magic itself is hard to come by & usually mistrusted.
Tolkien is mid on all of these
Warhammer is low fantasy, high magic
The Eldar Scrolls is high fantasy, high magic
Discworld is high fantasy, low magic
Game of Thrones is low fantasy, low magic
Sanderson’s Shadows for Silence in the Forests of Hell is mid fantasy, low magic