There are considerable risks, not just limited to cancer - rates of ischaemic heart disease and stroke go up, and a cursory look at the studies referenced in the article reveal that the probability is 13% higher.

https://www.bmj.com/content/366/bmj.l4897?ijkey=cc9f4aab56b7ce1123a634fd67b10a73ad6eb98c&keytype2=tf_ipsecsha

Further, there is considerable variability among individuals - colon cancer is just one issue.