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The phrase "risk is" is correct and can be used in written English
You can use it when referring to the risks associated with something, or when saying that a risk exists. For example: "Risk is an inherent part of any investment decision."
Exact(60)
Her risk is significant.
"The risk is insane".
That risk is gone.
The risk is minimal.
Credit risk is improving.
That risk is real.
The risk is asymmetric.
"But the risk is high".
"Weekend gap risk is massive.
"And the risk is real.
"The political risk is overwhelming".
More suggestions(3)
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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