One slightly spoiler-y example:
During the (first) war arc, at least one primary character can actually be killed depending on how well she does during a scene in which she gets swarmed by enemies on her own. If she does well enough, she “merely” takes permanent damage that renders her unable to ever fight again. Do better and she’s just out of the fight for a few days (which means you won’t have her for the final mission into the enemy’s capital to confront their emperor). Supposedly she can actually win but I could not pull that off no matter how many times I replayed the sequence.
More generally, choices in that game are split between in-the-moment decisions about how to handle a person or situation and economic investments that will slowly reshape the whole damn world. And some of your choices will permanently change how a character acts or even whether you can recruit them at all.