In a previous post I reproduced the image above, which is close in style to the large series of cuttings attributed to the Master of Monza, and I suggested that it came from the same series, cut from a collection of saints' lives.
I also suggested that it might be the "small cutting with a princess saint in an initial V in the Enrico Frascione collection in Florence" from a "broken-up choirbook", mentioned by Gaudenz Freuler in a 2013 catalogue.
Thanks to Messrs Frascione, I now have colour images of both sides, and can see that I was wrong to suggest that this comes from the Lives of Saints manuscript, and that Freuler was quite right to say that it comes from a choirbook -- as I should have realised from the trace of a musical note at the bottom edge.
Unfortunately the text on the reverse is too meagre to allow an identification: only the letters "ol" are clearly legible, and even if we could confidently read the partially obscured word as, for example, "[t]oll[ite]", it would still be insufficient for an identification:
I can add one piece of provenance: it belonged to Esther Rosenbaum (d. 1980), of Chicago, and was sold with the rest of her collection at Sotheby's, 25 April 1983, as lot 79(b), where it was bought by Maggs.
However, now that I have a colour image, I am less sure that it is by the same artist as the large group of cuttings from the Lives of Saints manuscript: