Hey was looking into some solutions as well and stumbled onto this.
My group around lv10 is fighting a demilich along with summonable gargoyle minions so 1 shotting a PCs full health at 0 isn't happening.
and so evenEven though one of my players had the periapperiapt for a while and it has saved them a few times, it really only 'thwarted' me with the demilich howl (on a successful save you fear the demilich on a fail instant 0 hp) and while I'm not an adversarial DM by any means and bend over backwards to have my mobs fumble when theyre in the corner (not that I wont kill my players but doing things like stabbing while down is a big no no unless that mob has NO other options)
so I've been looking for a way to counter the player but just realized...... this: ANTI-MAGIC FIELD! Since it endsIt suppresses the magiceffects of magic items too!.
The demilich has it as a lair action so that works but it only lasts a turn so at most I can get him to fail a single save or so.. which iI think it would still offer that fear factor iI want to instill even if it doesntdoesn't kill him (although if I want, I can have the demilich instruct one of the minions to attack mid turn since the demilich only inflicts saving throws and no attack rolls. (and II leave KO characters out of AoEs, it would be unfair to change it now especially since I'm not really out to get anyone in particular ).
If you have a smart or prepared boss I would like to suggest to use an anti magic field (or a beholder), it can use an anti magic field to counter it and as a spell it should last longer toothe periapt.