When the risk of failure is too high, the right choice is to forbear.

Judgment is affirmation with the intention to thereby affirm competently enough, and indeed aptly. That distinguishes judgments from mere guesses.

When you dream, your perceptual (and other) competence is affected. You are then unable to get it right competently with the beliefs in your dream.

The risk pertinent to a particular attempt (and to its evaluation as an attempt of its sort) is the risk that the agent will fail to attain the end constitutive of that attempt. This risk of failure is coordinate with how likely or unlikely it may be that the agent will then succeed.

In my view there is a level of human knowledge that involves just getting it right aptly. This "animal" epistemic level is an inferior level in just the way of Diana's long shot in the dark while drunk. That shot is inferior in a certain respect if too poorly selected as a hunter's archery shot, even if not quite as poorly selected as would be a shot aimed at the moon. Even if Diana's too risky shot turns out to be apt by attaining success through sublime archery dexterity, it is still inferior in the particular respect of being so risky and hence so poorly selected.

If the agent aims to make the attempt if and only if it would be apt, then a distinctive element of risk assessment becomes relevant: How probably would the agent succeed in attempting that fuller end?

Knowledge in my view is a form of action. It involves endeavors to get it right, and more broadly it concerns aimings, which can be functional rather than intentional.