What is a sauce consisting of heavy cream that has been reduced until slightly thickened blended with stock or other liquid and flavoring called?

The sauce you're describing is called a velouté.

Here's why:

* Velouté is one of the five mother sauces of French cuisine.

* It is made by thickening a white stock (chicken, veal, or fish) with a roux (a mixture of butter and flour).

* The heavy cream is added after the roux has been cooked and the stock incorporated. It's typically used to enrich the flavor and add a luxurious texture.

While the cream is reduced to thicken the sauce slightly, the main thickening agent is the roux. This sets it apart from other sauces where the cream is the primary thickener.