This is unsupported by the literature. Moral hazard creates risk. It has no special power to create systemic risk.

Systemic risk is created by risk interconnects (the more opaque the better), predominantly, and crises of faith, less dominantly. (The latter is more of a classic case. If the government is collapsing, yes, you have systemic financial risk, but, one, that's obvious, and two, that's not the most pressing problem.)

Once you're done mopping up the systemic risk, nothing stops you from curing the moral hazard. If China bails out Evergrande, I don't think the executives will have a fun time. In America, post-crisis regulation was sharpened to limit the chance of future bailouts. (Though, in my opinion, not enough.)