In this recent article they interview someone at riot responsible for the AI anti cheat called "Vanguard" who said
According to Chamberlain, players found to be cheating on Valorant will be punished. These punishments, however, are not yet fully defined. "This can always change, but my current thinking is that all accounts that we identify using tricks are permanently suspended. In addition, we would like to temporarily prohibit this computer from running the game, precisely to discourage the user from creating a new account
however they didn't say how many time.
The AI anti cheat seems a Automatic Overwatch (From csgo)
External link →Part of the anti-cheat effort will be made by an Artificial Intelligence system called Vanguard. This AI will monitor players and ban suspects. "The platform will act on all fronts, from the investigation to the banning of the user". Chamberlain also explains that the main cheats and hacks used in FPS games, such as aimbots and wallhacks, have already been studied and are on the radar of this AI. Thus, a user who always shoots enemies in the head or who can "predict" what happens outside their field of vision will be a potential suspect.