Can low fat milk replace fresh milk in cooking?

Low fat milk can replace other types of milk in most recipes (the exceptions being condensed milk and evaporated milk), however you shouldn't expect it to be as creamy or thick as it otherwise would be. Low fat milk, of course, doesn't have the same fat content, and the fat is what imbues the recipe with flavor.

If you are going to use low fat milk, I would suggest making sure you pump up the flavor in other ways, like using more spices or more flavorful secondary ingredients.