F5 WAF risk assessment process

You asked this before and got an answer there, what was not ok with that?

Beyond that you give pretty limited information. Should the risk assessment be of the F5 WAF itself or the application beyond the F5 WAF?

If you search the internet you can find many resources about risk assessments, it helps to make clearer what you want your scope is because else this becomes way too broad a question to answer.

It is also always possible to get external help, perhaps your F5 partner or your security partner can assist with a start or the whole proces.