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Discover Ludwig"deprioritize" is a correct and usable word in written English.
You can use it whenever you are describing the act of lowering the priority of something. For example, "The company decided to deprioritize the new product launch in order to focus on the existing projects first."
Dictionary
deprioritize
verb
To reduce the level of priority.
Exact(1)
When people feel threatened and insecure, they generally turn to shorter term thinking and deprioritize pro-social behavior.
Similar(3)
Unsurprisingly, green business travel is one of the things being deprioritized, according to a survey (PDF) released by the Association of Corporate Travel Executives.
In America, though, Keynesianism has always been associated with stimulus programs, big government, and deprioritizing the deficit.
It will also be deprioritized in Facebook's news feed.
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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