There is nothing wrong with low head loss just somewhat unusual. Most pools are between 45-65 feet of head. I would say you are probably on the lower end of that scale if not below.

However, Dave could be correct that there is a restriction on the suction side but you would normally see this as air in the pump lid.

Another concern could be a damaged pump impeller. This will also show up as low PSI since the pump is not moving enough water.

Otherwise, a few things that might account for the low PSI reading: No heater, large pipes and/or short distance from pool to pad. What size is your piping?

One other thing distance is not a direct conversion to head loss so the 46 feet is a coincidence.