Cyber-physical power system (CPPS) has significantly improved the operational efficiency of power systems. However, cross-space cascading failures may occur due to the coupling characteristics, which poses a great threat to the safety and reliability of CPPS, and there is an acute need to reduce the probability of these failures. Towards this end, this paper first proposes a cascading failure index to identify and quantify the importance of different information in the same class of communication services. On this basis, a joint improved risk-balanced service function chain routing strategy (SFC-RS) is proposed, which is modeled as a robust optimization problem and solved by column-and-constraint generation (C-CG) algorithm. Compared with the traditional shortest-path routing algorithm, the superiority of SFC-RS is verified in the IEEE 30-bus system. The results demonstrate that SFC-RS effectively mitigates the risk associated with information transmission in the network, enhances information transmission accessibility, and effectively limits communication disruption from becoming the cause of cross-space cascading failures.