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"potentially high risk" is correct and usable in written English.
You can use it when describing something that might have a significant risk if certain conditions are met. For example: "This situation could be potentially high risk if not managed properly."
Exact(29)
MI5 is reticent about releasing exact figures but it has a database of about 3,000 potential people of concern, of whom about 500 are regarded as potentially high risk.
Most expressed confidence identifying women at potentially high risk, but not moderate risk.
This creates a potentially "high risk" for the exchange, said the memo, from the Centers for Medicare and Medicaid Services.
In the campaign's initial stages Publicis worked with viral advertising specialist Cake to build awareness of Hype on the internet - a potentially high risk strategy.
This fuzzy risk can be further used to prioritize all the international river basins which can help in the identification of potentially high risk basins.
The maritime industry (including fishing) has been identified as an area of potentially high risk for human trafficking due to the nature of the work in the sector, and the employment structures that are used.
Similar(31)
Mr. Dear wants to embrace some potentially high-risk investments in hopes of higher returns.
Edelman was also reviewing other potentially high-risk clients, such as coal producers.
But existing loopholes, like allowing the use of potentially high-risk parts from animals younger than 30 months, must be closed as well.
Landlords could also find themselves in some very difficult and potentially high-risk situations if they are presented with documents which are obvious forgeries.
Women from socially disadvantaged backgrounds have potentially high-risk pregnancies in medical and social terms, but can have difficulties accessing appropriate care.
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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