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The phrase "moon shot" is correct and usable in written English
It is typically used to describe an ambitious or innovative project, often with a high level of risk and potential reward.
Example: "The company's new initiative is a moon shot aimed at revolutionizing renewable energy technology."
Alternatives: "ambitious project" or "high-risk venture"
Dictionary
moon shot
noun
The launching of a spacecraft or an object to orbit or land on the Moon
Exact(57)
It's a moon shot".
There is a moon shot here.
Obama should launch his own moon shot.
This is my moon shot.
I think of Google Books as our moon shot".
Cape Canaveral was the launching pad for our one national moon shot.
Many schools, he explained, still taught from textbooks that conjectured a moon shot.
Moon shot a silky 3-pointer and could make highlight-film dunks.
But we're not going to have a national moon shot again.
Inspiring, reviving and empowering Start-up America is his moon shot.
"The grand challenge is to make a whole kidney — that is our moon shot," she said.
More suggestions(1)
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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