I don't grow the 'Purpurascens' form of Osmunda regalis, but royal fern is native here and we have quite a bit of it growing wild. It likes wetter than average conditions and at least part shade unless it is growing in standing water IME. It is fairly airy compared to something like an ostrich fern and taller than many ferns once it is mature as long as it gets enough moisture. (It isn't worth growing if it doesn't get enough moisture, so if you don't have a way to keep it damp to wet, I'd choose another plant.)

I'd put 'Purpurascens' where I could enjoy the color in spring since it turns green later in the season. I find royal fern ornamental, but not in a formal way, so I would probably plant them in a less formal area with other plants that like similarly damp conditions. I have a preference for mixed beds, so I can see it with shrubs such as Clethra, Itea, Rhododendron viscosum/Swamp azalea, along with perennials such as Iris versicolor/blue flag or Siberian, cardinal flower/Lobelia cardinalis, marsh marigold/Caltha palustris, or marsh lady's tresses/Spiranthes odorata.