Jewel of the North
I guess a better name would be Narrow-Magic, to go the opposite direction of Eberron where magic is wide but isnt deep.I would not call Dragonlance a low magic setting. I would call it a high magic setting where the magic spellcasting is controlled by the God's enforcers on the ground (both the moon gods for arcane and the other gods). Magic exists aplenty in the setting - Dragon Orbs, Dragonlances, +3 weapons, vorpal blade, the Staff of the Magius which is arguably the most powerful wizard magic item in 1E. The modules and rulebooks on Dragonlance were chocked full of magic.
Spellcasters do have a lot of magic in DL, and as noted, magic items are quite present. But the way to magic is treacherous, so not every character can cast spells. Which make it a little harder to do in 5e, since about 90% of the classes and archetypes gain access to magic in their character developpment and not with the help of unearthed magic artifacts.
I do think that there's a way to have most class in the PHB somehow present in DL, but the archetypes that grant spells to not-spellcaster class should be rarer.