There is no risk reduction here. Everything for the PLAN is new as far as an AEW aircraft is concerned in terms of integrating various systems together. And as far as turbofans go, the PLAN is not exactly new to those. A suitable one could be the ones used on the L-15, or another turbofan purchased from Russia. The point of choosing a turboprop isn't about risk reduction, it's about fuel efficiency.
Relative to developing a turbofan powered carrier AEW&C airframe, I think pursuing the E-2 configuration turboprop driven airframe does have reduced risk. For the record, I'm talking about the physical aircraft (airframe, powerplant, flight controls) rather than the radar system or combat management system aboard the aircraft.
Not only do they have relatively proven turboprops (the ones used aboard Y-9 family) to derive a powerplant from for H-600, but they also have a suitable airframe in the form of Y-7 which is appropriate to substantially modify into a new aircraft for carrier operations. Furthermore, this configuration being a proven one that the USN has been using for decades also likely means it is perceived as more proven for the PLA as well.
OTOH, the PRC aerospace industry do not have an appropriate turbofan powered airframe that they could adapt for carrier operations nor do they have an indigenous (which while not essential, it would certainly be preferable) turbofan in that class available at present that could be derived for a turbofan for a carrier AEW&C.
I think if the PRC aerospace industry happened to have the right pieces that already happened to be in place to allow relatively lower risk development of a turbofan powered AEW&C then they might have considered it in lieu of the E-2 configuration they've chosen. After all, we've seen the PLA take on certain new directions which could be perceived as higher risk but which makes sense given potential benefits of success as well as enjoying the fruits of preceding R&D (e.g. going for EM catapults rather than steam).
However for the carrierborne AEW&C project I think the risk of developing a turboprop driven E-2 configuration aircraft would've been perceived as much lower than developing a turbofan driven aircraft.
Developing a turboprop driven, E-2 configuration carrier AEW&C will be new for the PLA and have an amount of risk -- but developing a turbofan driven carrier AEW&C will also be new for the PLA and likely carry higher risk considering the available existing powerplants and existing airframes they had to work with not to mention choosing an AEW&C configuration that does not have the long service history that the E-2 does.