Brazil ended the match with no shots on target and suffered their first defeat in a World Cup qualifier since 2015 after going 37 games unbeaten.
The centre-back made his final decision to step away from the pitch after his daughter's birth last month.
Ugarte is PSG's third new recruit in the close season after they signed centre-back Milan Skriniar and forward Marco Asensio on free transfers.
The 18-year-old striker, born in Palamos in the Costa Brava, made four appearances with Spain at the Under-18 level but has since turned out eight times with Uruguay's Under-20 team.
The Super Cup will be held in Kozhikode and Manjeri. The qualifiers begin on Monday, while group-stage action kicks off on April 8.
South Korea's shock 2-1 win over Portugal - the second goal coming in stoppage time - ensured the Asians went through by virtue of having scored two more goals.
A win for Ghana against Uruguay in Friday's final Group H match could avenge their acrimonious defeat by the South Americans in 2010, when Suarez used his hand to block an extra-time winner for Ghana.
Uruguay, third on one point, must beat Ghana in their final group game to have any chance of progressing.
Uruguay's Diego Godin and Federico Valverde were denied by the woodwork.
South Korea's coach Bento confirmed that Wolverhampton Wanderers forward Hwang Hee-chan had not recovered in time for the game while the team will take a late call on defender Kim Jin-su.