Zionist is an explicit term with an explicit meaning, not a euphemism or dogwhistle.

Zionism is an organised ethnocultural nationalist movement for the creation of a Jewish state through the complete colonization of the Palestinian state. The term "Zionist" was explicitly created by Jews - not anyone anti-Judeic or anti-Semitic. See for example the First Zionist Congress created by Theodor Herzl.

Zionism is a political movement, not a religious or race.

Nobody cares much nowadays for hearing the lie that to be anti-Zionist is the same as being anti-Semitic, because it's a lie told to deflect any criticism of Zionist politicians and the Israeli government.