Is the expression "blocking point" correct?

In a bullet list, I want to say there is a point which is "blocking". Is "blocking point" the correct expression or not?

I would use "sticking point" given the context in your comment, or "bottleneck" if the step is holding things up but not stopping the process entirely.

What you describe sounds like a "prerequisite".

Besides using bottleneck or prerequisite from previous answers, saying an item is on a critical path is a possibility. Some words that appear to not quite work due to lack of specificity are essential and critical.

I prefer to use the term "blocker".

We use this term where I work. The formal definition of the word supports this usage.

noun /ˈbläkər/  blockers, plural

1) A person or thing that blocks, in particular

2) A player whose task it is to block for the ballcarrier or kicker

3) A substance that prevents or inhibits a given physiological function