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"potential downside" is correct and usable in written English.
You can use it to describe any possible negative outcome of a situation or thing. For example, "The potential downside of this investment strategy is that it could result in a significant loss of capital."
Exact(60)
Another potential downside?
But the avarice has a potential downside.
And there is another potential downside.
But there is a potential downside.
However, this cushioning also has a potential downside.
The potential downside to this patience – or delayed firing?
But who wants to dwell on the potential downside?
However, the potential downside of Polk's fitness level is injury.
The potential downside will be the Spanish people's to bear.
The new year brings the industry a potential downside.
There is, of course, a potential downside to the trend.
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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