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"acceptable level of risk" is a correct and usable phrase in written English.
It refers to the level of risk that is deemed to be acceptable or tolerable in a particular situation. Example: The company's policy on investments states that they will only take on projects with an acceptable level of risk, as determined by the board of directors.
Exact(60)
What is an acceptable level of risk in cyberspace?
What should be considered an acceptable level of risk?
If so, is there an acceptable level of risk?
This means seeking the best return on their investments at an acceptable level of risk.
Determine the acceptable level of risk at which banks can operate.
NASA plans human planetary explorations with an acceptable level of risk consistent with other manned operations.
Inherent in any statement about safety is the implicit assumption about an acceptable level of risk.
Through a global network, many small units can come up with a variety of solutions at an acceptable level of risk.
Dynamic risk-based maintenance (RBM) methodology is a tool for scheduling maintenance plans based on an acceptable level of risk.
The evaluation results demonstrate varying degrees of system improvement depending on the acceptable level of risk defined.
Different individuals are expected to have different thresholds for "acceptable level of risk," and these thresholds will change based on context.
More suggestions(12)
acceptable level of exposure
acceptable level of harm
accepted level of risk
acceptable standards of risk
acceptable level of risks
acceptable level of quality
acceptable level of accuracy
acceptable level of care
acceptable level of precision
acceptable level of performance
acceptable level of confidence
acceptable level of service
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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