What are the risks of using tools like these? Can the service providers cancel my account or worst? Do they even know that these tools are being used?

I have been running Bazzite (with KDE) and an Nvidia GPU (RTX 3070) for almost 6 months and I have not had any issues.

Everything worked with no additional tweaks. I was playing Dead Space (2023) almost half an hour after installing the OS, it was amazing. If you have the time, you should give it a try, I highly recommend it.