We use the enzymatic CET chews, which are rawhide. The danger depends mostly on your dog's chewing habits. Max and Teddy are heavy, aggressive chewers, so I hold onto the CET chew while the boys work on them.
The chew becomes rubbery as they are chewed. If the dog swallows a large piece, or the whole thing, it can become lodged in the throat. This happened to Ann's Marcel. His airway was completely obstructed. I also had to retrieve one from Teddy's throat when he got away from me and tried swallowing the whole thing.
Many people have commented on YT that their small Yorkies cannot chew off a piece of the medium size, but Teddy can.
He has scissor teeth. He has swallowed small pieces and not had any problems, but rawhide can cause GI obstructions.
There is also a variation in size and thickness of the chews in each bag.