Is it correct to say
There is only beauty, that makes the sense/point in this world.
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There is only beauty, that makes the sense in this world.
There is only beauty, that makes the point in this world.
Before we address your explicit question, we need to fix a grammatical error. As it stands your sentence has three possible interpretations, none of which is quite what you actually say:
If that is a demonstrative pronoun, then what follows it is an independent clause whose subject is that. In that case you have two independent clauses, and formal use requires that the comma should be replaced with a full stop, dash or semicolon.
There is only beauty. That makes X in this world.
This could be paraphrased
Only beauty exists. That fact makes X in this world.
If on the other hand that is a relative pronoun, then the comma marks what follows as a non-restrictive relative clause. But that is not permitted to start a non-restrictive clause. You have two choices:
You may keep this as a non-restrictive clause by replacing that with which
There is only beauty, which makes X in this world.
This could be paraphrased
Only beauty exists, and beauty makes X in this world.
Or you may delete the comma and make the that clause a restrictive clause:
There is only beauty that makes X in this world.
This may be paraphrased
The sort of beauty that makes X in this world is the only thing that exists.
I suspect, however, that neither of these is what you mean, and what you are trying to say is this
The only thing that makes X in this world is beauty.
If that is the case then you should not use the existential construction, There BE, but the cleft construction It BE
It is only beauty that makes X in this world.
Now we're ready to ask what X should be—point or sense.
In the construction make a point the word point means a fact or opinion, and to make a point means to introduce that fact or opinion into the discourse.
I would have asked John to meet the new client, but Susan made the point that all his time is tied up with the Osborne project.
What you probably mean is make sense, which means "be meaningful or rational".
John's proposal makes sense; let's do this his way.
It is only beauty that makes sense in this world. = Beauty is the only thing in this world that is meaningful.
It is also possible that you mean make sense of rather than in this world: to make sense of the world means to furnish a meaningful or rational understanding of the world.
It is only beauty that makes sense of this world. = Beauty is the only thing which makes this world understandable.
Note that this is bare sense, without the article; the sense has two or three different meanings, none of which is applicable here.