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The phrase "power of appointment" is correct and usable in written English.
It is typically used in legal and financial contexts to refer to the authority granted to a person to designate who will receive certain assets or property.
Example: "The trust document grants the trustee the power of appointment to allocate the remaining assets to the beneficiaries."
Alternatives: "authority to appoint" or "discretion to designate".
Dictionary
power of appointment
noun
In the law of wills, the ability of a testator to select a person who will be given the authority to dispose of certain property under the will.
Exact(32)
By late 2014, we were walking after lunch, and Barack said: "Joe, if I had the power of appointment, I'd appoint you president.
(2 Certain bequests subject to power of appointment.
By distributing the power of appointment, controlling the Supreme Court becomes quite hard to achieve.
The paulette provided the crown with needed revenue, although it also diminished the king's power of appointment.
The province has some good reasons for wanting autonomy: the central government's power of appointment extends from school-teachers to provincial governors.
An 'indicative' ballot for the editor (the legal power of appointment remains with the trust) was first held in 1995 at the initiative of the Guardian NUJ chapel.
Similar(28)
But he also pledged to use his power of appointments to get more minorities on the governing boards.
But having gone through with the different modes of appointment, I shall endeavour to shew what share in the distribution of the power of appointments the legislature must, from necessity, rather than from propriety, take.
Whether they ought to be eligible to any offices whatever during the period for which they shall be elected to serve, and even for some time afterwards--and 2. How far they ought to participate in the power of appointments.
"The president's power is in the power of appointments.
-- Gov. Gavin Newsom has been using the power of appointments to shape government in his image.
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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