"is intangible" is a correct and usable phrase in written English.
You can use it to describe something that cannot be touched or seen, but can still be experienced or enjoyed. For example: "The joy of achieving a goal is intangible."
Dictionary
is intangible
adjective
Incapable of being perceived by the senses; incorporeal
synonyms
Exact(54)
The allure is intangible: precise engineering, beautifully displayed.
One of the museum's most prized assets, however, is intangible.
That is because our enemy is intangible: it is, in essence, the absence of critical moderation.
It adds: "The magnitude of the nuclear threat is intangible: no units exist with which we can measure it.
Student analytics systems typically draw on data that is easy to measure and capture and ignore information that is intangible.
Everyone complains about how digital media is intangible and anonymous, so imagine the thrill of receiving a mix comprised of twenty-five floppy disks.
Similar(6)
Unlike the Persians and the Romans, this new threat is intangible--no walls are breached, no temples burned, no citizens murdered--yet it poses real dangers.
It was intangible assets".
It's intangible".
"But they are intangible.
Our professional contributions are intangible.
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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