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The phrase "important caveat" is correct and can be used in written English.
It is a phrase used to mean a warning or precaution about a situation. For example: "As a potential investor, it is important to note the important caveat that there are always associated risks."
Exact(59)
There is an important caveat.
An important caveat remains, however.
We'll add an important caveat.
However, this leaves out an important caveat.
But he added an important caveat.
But the Court issued an important caveat.
Eventually, however, he added an important caveat.
But there is an important caveat.
There is an important caveat, however.
There's an important caveat, of course.
Similar(1)
An important caveat regarding the attrition rate must be mentioned.
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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