WoTC literally uses Wizard as an example to make this clear:
If you have more than one spellcasting class, this table might give you spell slots of a level that is higher than the spells you know or can prepare. You can use those slots, but only to cast your lower-level spells. If a lower-level spell that you cast, like burning hands, has an enhanced effect when cast using a higher-level slot, you can use the enhanced effect, even though you don’t have any spells of that higher level.
Spells Known and Prepared.
You determine what spells you know and can prepare for each class individually, as if you were a single-classed member of that class. If you are a ranger 4/wizard 3, for example, you know three 1st-level ranger spells based on your levels in the ranger class. As 3rd-level wizard, you know three wizard cantrips, and your spellbook contains ten wizard spells, two of which (the two you gained when you reached 3rd level as a wizard) can be 2nd-level spells. If your Intelligence is 16, you can prepare six wizard spells from your spellbook.
You can’t prepare spells higher than your individual class’s spell progression would allow. If you couldn’t prepare it as a level 1 Wizard, you couldn’t prepare it as Cleric 19/Wizard 1
