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"not without risks" is a correct and commonly used phrase in written English.
It is typically used to convey that something may have potential risks or dangers associated with it, but it is not completely without them. Example: "Despite its potential benefits, starting your own business is not without risks. You must carefully consider all potential challenges before taking the leap."
Exact(60)
It's not without risks.
Such tomfoolery is not without risks.
Geothermal, moreover, is not without risks.
The deal is not without risks.
The current atmosphere is not without risks.
The strategy is not without risks.
Being a notary is not without risks.
That strategy is not without risks.
But the decision is not without risks.
All this upgrading is not without risks.
But these partnerships are not without risks.
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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