George R. R. Martin's written a couple of short stories from that perspective: "Slideshow," about a guy who gets to explore space once, but isn't good enough to be chosen again; "Fast-friend," about a guy who doesn't get a Spider Robinson-type space symbiont, arguably "A Song For Lya," though the path the hero doesn't take is is of highly dubious merit.

Martin and Lisa Tuttle's Windhaven has a heroine who starts out as a Chosen One, but [spoilers elided] doesn't stay one.

This may be a theme more commonly explored in short stories than novels, as it tends to be depressing, and few sf and fantasy writers want to be depressing for an entire novel.