If you would be so kind as to fill out at least the location portion of you profile you might find someone close to you to answer your questions. That being said, Cherry is a fairly hard and durable wood, I happen to be hyperallergic to the burn dust. It burns easily when sanding end grain. I'm not sure how it handles exposure to water. I suggest you cut out a test piece or two, say a half inch square and a couple of inches long. Finish to a 400grit finish, coat one with a paste waxy of your choice (I use Briway), or a finish of your choice, drop both in a container of water and let them soak for two hours, then measure the dimensions. Then let them dry and see how much they warp and or crack and what the dimensions are after drying.
If they don't crack, warp excessively (your call on what this is) and if the dimensions are close to the original, they are probably suitable for knife grips.
I have a tendency to stay away from non stabilized wood since knives somehow end up in the sink, sometimes for overnight. The result on the grips is not pretty! We won't even go into what a dish washer does.
Jim A.