>>47582040The short answer is no, you won't get arrested or sued.
The slightly longer answer is that ROM hackers do not distribute hacked ROMs, they distribute free patches you apply onto a game you are supposed to own. You're allowed to do what you want with a product you own, so if you want to edit it to make it seem like a different game altogether, you're free to. The same goes for RPG Maker fangames, because they are modifications of RPG Maker's engine that freely parody Pokemon content under fair use.
You will only get in trouble if you start distributing hacked ROMs or monetize your patches. Of course the latter can be even gotten around by Patreon or whatever, but that's not strictly a business exchange over the copyrighted material.