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The phrase "an approximate proxy" is correct and usable in written English.
It can be used when referring to something that serves as a rough substitute or representation for another thing.
Example: "In this study, we used an approximate proxy for measuring the economic impact of the policy changes."
Alternatives: "a rough substitute" or "a close representation".
Exact(4)
This date is also an approximate proxy for the establishment of monetary regimes more successful in controlling inflation.
Newman and colleagues admit that the spread of disease is only an approximate proxy for social networks.
As asset flows among these funds serve as an approximate proxy for the overall market, we should expect money to start pumping back into stocks as well.
For this reason we consider the sintering of particles to other particles of the same material as an approximate proxy to the timescales and characteristics of sintering to a metal substrate or to a thermal barrier coating.
Similar(56)
We also need to take into consideration the long-term survival goal of the society, represented by its approximate proxies.
Is there an approximate budget?
Many insects use an approximate approach.
Time to cook up an approximate budget.
The payouts offer an approximate equivalent enabling rough comparisons.
Give an approximate timeline for the first prototypes.
It also gives you an approximate quote.
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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