risk vs health hazard

risk and health hazard both are nouns.

Word	Noun	Adjective	Verb	Adverb
risk	Yes	No	Yes	No
health hazard	Yes	No	No	No

As nouns, health hazard is a hyponym of risk; that is, health hazard is a word with a more specific, narrower meaning than risk:

Other hyponyms of risk include moral hazard, occupational hazard, sword of Damocles.

risk (noun)	health hazard (noun)
a venture undertaken without regard to possible loss or injury	hazard to the health of those exposed to it
the probability of being exposed to an infectious agent
the probability of becoming infected given that exposure to an infectious agent has occurred
a source of danger; a possibility of incurring loss or misfortune

risk (verb)	health hazard (verb)
expose to a chance of loss or damage
take a risk in the hope of a favorable outcome