The Circle by Tangents tools allows you to construct a Circle that is tangent to two line lines that you define. Here’s an example:
The Line Segments in the image above were there before the circle was constructed, but you could use any four points to define the tangent lines. There are no construction options for this tool, only the Mark Button
One note on paint stroke width: the placement of the circle, is based on lines defined by dimensionless points. It doesn’t account for paint width so it’s possible that the circle may actually overlap the lines that you define. The best way to adjust for this is to change the paint width of the circle.