This is to a large extent, a matter of style. Compounds, hyphenated or not, in the form noun-wise are often used informally, as most dictionaries advise. A few, related to manner or direction, have no hyphen and become incorporated into the language as 'dictionary words' and use of these is not considered informal. Examples are lengthwise, clockwise, anti/counterclockwise, otherwise, likewise.
Most style guides advise that not only are ad-hoc hyphenated creations informal, excessive use of them is to be deplored. This practice was mocked in the 1960 Jack Lemmon-Shirley MacLaine film The Apartment. More than two such words in the same piece of writing or dialogue would probably be too much.
Attempts to promote such a word to respectability by removing the hyphen would probably not work.
-wise suffix (Grammarist)
The suffix 'wise' (Language Blues)
In recent decades an increase in the use of the English suffix ‑wise
was commented on by several authors (...). In fact, this phenomenon has also
elicited comment and advice from sources following a more prescriptive
tradition, such as style manuals used and prepared by editorial staff
of various newspapers and magazines, discouraging language users from
employing this suffix by proclaiming it non‑standard. Thus, for
example, The University of Minnesota Style Manual states firmly:
“Adding the suffix ‑wise to a word is almost never appropriate. […]
Avoid it.” Bauer and Huddleston (Chapter 19 'Lexical Word Formation', Cambridge Grammar of the English Language) explicitly mention that
the construction is frowned upon by prescriptivists, but seems to have
“caught on” in less formal, particularly, spoken discourse. Indeed,
the formation of adverbs in ‑wise from nouns is alive and well,
thriving in both American and British English, as illustrated by a
private letter received by the author of the present article from her
English friends
(1) Our family seems o.k., although P. is causing some concern
healthwise.
(2) Hopefully you & B. have managed to get some resistance to the
‘nursery germs’ and will have a better winter cold & flu-wise.
The English Suffix -Wise and its Productivity from the Non-Native Speaker Perspective
