Let's go through the things you should look out for one by one.
The duration you list is rather unique, for a 5e spell. I believe you could avoid trouble by making it last for a fixed duration of 1 minute, 10 minutes or 1 hour. Also, instead of the 1/target limitation, consider making this require concentration, as it is a more widely used restriction which could serve the same purpose (although with slightly different results). In general, inventing as few new mechanics as possible is a generally good idea, as it will blend into the existing rules more seamlessly.
2. Known vs. prepared
Different classes are limited in the spells they can use in different ways. The most relevant distinction in this case is whether the target prepares their spells (like a wizard) or knows them (like a sorcerer). Unless the lore of your world dictates otherwise, the spell could effect either type of caster, but this will have to be included in the wording. This is also another opportunity to limit the spell, if you feel it is necessary. You could make two separate spells that could each target only one type of caster, for example. This could also be done with the arcane/divine distinction.
3. Do you know their spells?
As it is now written, the spell does not grant the caster the knowledge of which spells they could choose. I believe that should remain so and should be explicitly stated. This would mean that proper preparation and foreknowledge of the enemy would be even more valuable for a caster with this spell. Also that kind of information can be really valuable and should not be treated as a mere side effect of a spell (especially if you want to make it low level).
While cantrips are treated as level 0 spells in many cases, they often have more utility than 1st level spells, due to the fact that they can be cast at will. Especially against low level casters, "blocking" a cantrip this way can be devastating. The "cleanest" solution would be to not allow the spell to affect cantrips. If you wish to keep this capability, I would recommend either raising the base level of the spell, or the level at which it can affect cantrips.
Now, this is often a difficult subject. In the previous paragraphs, I have outlined some ways you can tweak the power level of this spell. You will have to decide on these parameters depending on what place this spell will take in your world. Only then can you assign a level to it. If you limit it as much as possible according to my advice (1min, concentration, can only affect either prepared or known spells, cannot affect cantrips, confers no knowledge of possible choices) I believe this could stay at 1st level. On the other hand, if you leave it unrestrained, this could rise to level 5 easily, especially if you keep the duration as it is.
You will also have to decide which classes get access to the spell. You will have to make the choice based on lore and your campaign. Still you should be cautious if you plan to place it on the spell list of a class that prepares from their whole list (like a cleric), as then all creatures with levels in that class will be able to prepare it in your world. You might even choose to make it a "restricted" or "secret" spell that is not generally available, but can be learned as a quest reward for example. This works best for wizard spells (as a method of gaining new ones is already there), but can be done for other classes too.