The defense is relatively safe without gloves and works perfectly if done correctly. Two points to consider:
Side-step and close a bit of distance to the opponent plus a slight turn to avoid getting hit regardless and open up the possibility for counters. This also means you do not need to do the parry itself as a powerful move.
Do not try to do the parry as a powerful move (😜). No, seriously, it is rather a slap with a relaxed hand than an actual strike with force. That way, the parry is more efficient and you do not risk extra strains on the elbow or bones.
Background is Krav Maga in this case. That parry is widely acknowledged across every applied self-defense I encountered so far though, may it be in Judo, Japanese Jiu Jitsu, or Gracie Jiu Jitsu.
Edit to answer comments
Heavier opponents: The technique works just fine even against heavy opponents and legs. The point of a parry is not to move the leg much. But it still is more than enough since the main defensive action is the side-step anyway. It is to support the side-step with a minimal deflection. The change of direction itself is mainly due to the parry breaking their balance rather than actually moving the leg. And no matter how big they are, muscles able to counter the lateral force against an outstretched leg are non-existing.
Timing and injury risk: There is a similar technique for deflecting cross punches that are much faster. Still, you always hit the arm within 20 cm of the arm. Similarly, with minimal training, you will reliably hit at the right spot. As your force comes from the side, it is almost impossible to twist your arm. Additionally, your frontward side-step and reaction time will make it virtually impossible to get your hand in front of the kick.
