Its mostly safe if you compiled it from revanced.app or from github.com/revanced

As for account bans, I've been using it after vanced died and my accounts (including that has purchases) wasn't banned so maybe its a regional thing(?), I can't 100% tell.

PS: if you decided to give it a try and use your accounts, make sure to use the "vanced" version of microg, idk why but vanilla microg doesnt work with revanced in my experience

Try LibreTube.

Been used revanced YT and revance YT music for I think around 2 years now.

Perfectly safe as long as you get the manager app from the official sources linked in one of the other comments, and get the original apks to patch from somewhere reputable like apkmirror. That has nothing to do with the reputation of revanced itself, but more to do with the fact that a hacker trying to trick people into installing malware will of course target one of the most popular apps to sideload.

Not banned yet, and I've not heard of anyone getting banned across the subreddit or discord server.

I've been using revanced for a while now and haven't noticed any issues other than some of the patches don't always take.