Thanks again to everyone for their feedback. It's been invaluable for a newbie like me (and hopefully any other newbies reading this thread). I've finally narrowed everything down into the below rack to get me started:
Have removed the FH-2 because at this stage, I'm thinking it might be best for me to just use the rack standalone while learning, and not complicate things by adding the Elektron boxes into the mix. I feel like there's enough on my plate here to keep me busy for the next few months at least.
Replaced the Veils with Intellijel Quad VCA as the former won't be restocked until December and I can't find a second hand one locally. I also heard the Quad VCA might not be able to work with line inputs as they only boost to +6db as opposed to the +20db with the Veils. I figured I'll probably need the Veils at some point, so could also look at the FH-2 when the time comes?
Added the uO_c so I can quantize the MD and also experiment with its other features - e.g. envelope generation. A friend suggested maybe replacing it with the MI Tides to avoid menu diving with the uO_c, but I'm not sure if it's worth the trade off against the other functions of the uO_c, especially with a small rack? That Maths illustrated guide does look very useful, so I'm a bit town about this part.
I know I don't need an output module at this stage, but with my budget it looks like I can squeeze in the 4ms Listen 1/4, so I'm tempted to just add that in as I do have limited desk space, so might even sell my ZED60-FX mixer and get something smaller in the future - maybe a 1010 Bluebox, or something cheaper? Form factor is key for me at the moment.
Also noting that my friend has a 2hp trim and mult, along with the MI Kinks, so if needed I can also add these to my rack temporarily.
I think I'm ready to bite the bullet and make a purchase, so are there any concerns with this revised rack to get me started?