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The phrase "a very high risk" is correct and usable in written English.
It can be used when discussing situations, actions, or decisions that involve a significant chance of negative outcomes or consequences.
Example: "Investing in this startup presents a very high risk, given its lack of a proven track record."
Alternatives: "a significant risk" or "a considerable risk".
Exact(41)
They have condemned her to a very high risk of a bad outcome.
"There is a very high risk of violence and demonstrations," he said.
"I don't consider that to be a very high risk at this point".
He added that there was "a very high risk" of further leakages.
The procedure is only recommended for patients with a very high risk of breast cancer.
"It is a very high risk kind of a choice," Mr. Redfield said, referring to Mr. Keyes.
Similar(18)
It's a very high-risk venture".
"It's a very high-risk occupation".
This is a very high-risk patient".
It's a very high-risk strategy.
In some ways, it was a very high-risk building.
More suggestions(2)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com