This is used, for better or worse, in some commercial equipment. The main risk is the increased inductance and the probability of shorting and breaking from mechanical movement.
Some studies for you:
Racal 9915 counter uses this for power transistors mounted to case. I have two, the leads are bare, splayed apart and jump wires connected about 2-3cm to the board. Works fine after 42 years or so still and these are portable and have been bashed around a lot. It makes me feel a bit ugh looking at it but it clearly worked.
Tektronix 2235 uses a plastic connector connected to the MOSFET leads on the preregulator. The other end is soldered to the board. This was knocked by me during refurb which caused a problem with the connector or the mounting and subsequently the MOSFET exploded. This burned the connector. I snipped the connector off, spliced the leads to the wire and heat shrunk each wire. All has been good since.
For me:
1. Avoid wicking the solder in the wires.
2. Make sure the design can handle the inductance of the leads otherwise this can lead to oscillations and all sorts.
3. Do solder it (make sure it isn't just lap-soldered) and shrink it.
4. Make sure the leads on the transistors don't have to hold a lot of mass. They are more brittle than the wires.
I'm sure there will be differing opinions