Restored heavy metal contaminated soil (RHMCS) can be utilized as building material, but the risks of heavy metal dissolution (HMD) under different scenarios are not clear. This study focused on sintered bricks made from RHMCS and assessed the HMD process and utilization risks of whole bricks (WB) and broken bricks (BB) under two simulated utilization scenarios of leaching and freeze-thaw. Part of the studied bricks were crushed, which increased the surface area (SSA) 3.43-fold and exposed the inner heavy metals, increasing the HMD in BB. However, the HMD in sintered bricks did not exceed the “Groundwater Quality Standard” and “Integrated Wastewater Discharge Standard” under different utilization scenarios, although the dissolution processes were different. In the leaching scenario, the release rate of HMs (As, Cr, Pb) changed from fast to slow over time; the maximum concentration was 17% of the standard limits. In the freeze-thaw scenario, there was no significant correlation between the release of HMs and freeze-thaw time, and the HMD of As was the highest, reaching 37% of the standard limits. Further analysis of health risks of bricks in the two scenarios found that the carcinogenic risks (CR) and the non-carcinogenic risks (NCR) were below 9.56 × 10−7 and 3.21 × 10−2, respectively, which are both lower than the Guidelines for Health Risk Assessment of Groundwater Pollution issued by Ministry of Ecology and Environment of China. These findings suggest that the utilization risks of RHMCS sintered bricks analyzed in this study are low in both scenarios, and higher completeness of bricks leads to higher safety in product utilization. The results provide a reference for the engineering utilization and disposal of building materials made from RHMCS.