I have a raster with different risk values for a hazard.
How can I identify the top x% (eg. 10%) of the raster cells with the highest values within ArcGIS?
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From your comment I understand that you are not looking for percentile but a given percentage of your range. You can use the raster calculator
Con("raster" >= (0.9 * ("raster".maximum - "raster".minimum) + "raster".minimum), 1)
of course 0.9 could be replaced by any value (this is an example with 10%). Note that the results will be a raster with 1 or Nodata, but you can also set a value instead of NoData if you need.