The phrase "you've got a nice [noun] here. Shame if something happened to it" has been a trope for years. It represents a type of communication where what the speaker intends to communicate is not actually what they say.
Is there a linguistic term for this? Subtext doesn't seem to fit because that implies that it is a secondary meaning, rather than the primary intended meaning.
Best Answer
The common way to describe this is as veiled language.
[Collins]