Look, there's always a chance you might get caught while cheating. No cheat is undetectable, there's always a risk, and you must assume that.
We've been without VAC bans for a long, long time, more than a year now without a VAC detection; however, that's not your only concern, there's also overwatch, if they deem your play style as fishy they'll convict you eventually getting you game/VAC banned.
Regarding the installation procedures; they're quite simple. The cheat will not change any game files; however, you shouldn't toss your loader in your CSGO folder. Feel free to place it wherever you want except there.
We have a guide and more stuff you can look at.