Would you just highlight the risks and let the team decide on the release?

No, simply highlighting the risks is not enough. As QA, it is important not only to identify and describe the risks but also to provide context and recommendations for decision-making.

It is useful to:

• Describe what specific risks are detected and how they might affect the product.
• Assess the likelihood and potential impact of each risk.
• Suggest mitigation options or workarounds.
• If possible, provide a recommendation regarding readiness for release or the need for additional testing.

This way, the team receives not only information about the issues but also an understanding of their significance and possible actions, which helps in making informed decisions.