I have been shooting a lot of reduced loads lately, primarily for recoil reduction so I am using light bullets.
Started off as hunting loads for the grandkids so I wanted the velocity for reliable expansion and shock.
Not sure if it would be a good choice for your application but I think H4895 should work well. It can be safely loaded down to 60% of a maximum charge according to Hodgdon. Haven't tried it with heavy bullets but my current 125 and 130Gr youth loads for .308 Win are a pleasure to shoot and deadly. In my opinion H4895 has made the what caliber for youth question obsolete.
I would think it would be a good option for reduced subsonic loads with a heavy bullet.
Sierra has a great help line that will let you talk to one of their ballisticians and they have been a huge help to me in the past. Their number is 1-800-223-8799 these guys probably do more testing than anyone in the world. It's one of the best ballistics resources I'm aware of. http://www.sierrabullets.com/ask-sierra/
Also Here are a couple of links to Hodgdon that might be of use to you.
https://www.hodgdon.com/wp-content/u...ifle-loads.pdf
I'd check the max load for something heavy here and check into what a 60% reduction might look like. I'm making an assumption that it would most certainly be subsonic.
http://www.hodgdonreloading.com/data/rifle
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