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"acknowledge the point" is a correct and usable phrase in written English.
You can use it to indicate that a point has been accepted or recognized as true or valid. For example, you could use the phrase "I acknowledge the point you are making about the importance of proper punctuation."
Exact(12)
I acknowledge the point, but in all areas we start by banning extremes.
Even executives from the Japanese giants themselves seemed to acknowledge the point.
Mr. Leight does, in passing, acknowledge the point about black innovation, however disingenuously.
The commission's action "seems to acknowledge the point I've been making since April," the senator said in a statement.
It's complicated – tax always is – so I offer this link – less abusive than most – to acknowledge the point.
Still, while Hamilton is right to contend that the best biographies have a novelistic feel, the unpardonable sin — from the historian's perspective, certainly — is the failure to acknowledge the point at which knowable fact has given way to fiction.
Similar(46)
Here, we respond to it point by point and also acknowledge the points that they note regarding incongruences between contemporary climate action and wartime mobilisation.
We acknowledge the points raised by Guzzi et al. regarding our recent publication on the transport of methylmercury and inorganic mercury to the fetus and breast-fed infant (Björnberg et al. 2005).
Over lunch, Evans acknowledges the point.
Mr. Swinburne acknowledged the point was worth considering.
Justice Kagan acknowledged the point but said the solution was not to deregulate contributions.
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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