The operative word in Prov 29:18 is חָזוֹן (chazon) whose BDB entry is listed in the appendix below. This word occurs 35 times in the OT Hebrew. According to Strong's lexicon, it has this meaning:
From chazah; a sight (mentally), i.e. A dream, revelation, or oracle
More helpfully, "The Complete Word Study Dictionary OT" by Baker and Carpenter defines the word as follows:
... a revelation by means of a vision, oracle, a divine communication.
The primary essence of this word is not so much the vision or dream
itself as the message conveyed. It signifies, the direct, specific
communication between God and people through the prophetic office (1
Sam 3;1, 1 Chron 17:15, Ps 89:19) or the collection of such messages
(2 Chron 32:32, Isa 1:1, Obad 1:1, Nah 1:1, Hab 2:2, 3). Also, the
word is used of the messages of false prophets (Jer 14:14, 23:16); a
guiding communication from the Lord, often restricted when people are
under judgement (Lam 2:9, Eze 7:26, Mic 3:6); and the revelation of
future events on a grand scale (Dan 9:24, 10:14). People who disregard
this divine communication face certain doom (Prov 29:18).
That is, the word does not mean simply "vision", but communication from God. Thus, I believe the most helpful translation of Prov 29:18 is given by the following versions:
- NIV: Where there is no revelation, people cast off restraint; but blessed is the one who heeds wisdom’s instruction.
- NKJV: Where there is no revelation, the people cast off restraint; But happy is he who keeps the law.
- CSB: Without revelation people run wild, but one who follows divine instruction will be happy.
- HCSB: Without revelation people run wild, but one who listens to instruction will be happy.
- CEV: Without guidance from God law and order disappear, but God blesses everyone who obeys his Law.
- NHEB: Where there is no revelation, the people cast off restraint; but he who keeps the law is blessed.
- WEB: Where there is no revelation, the people cast off restraint; but one who keeps the law is blessed.
- GNT: A nation without God's guidance is a nation without order. Happy are those who keep God's law!
For what it is worth, here is my personal translation:
Where no revelation, people cast off restraint; but happy is he who
keeps the law/Torah.
APPENDIX - BDB entry for חָזוֹן (chazon)
חָזוֺן noun masculine Daniel 8:1 vision (on formation compare LgBN
204) — absolute ׳ח Hosea 12:11 25t.; construct חֲזוֺן Isaiah 1:1 8t.
vision, as seen in the ecstatic state "" קסם Micah 3:6; "" מקסם Ezekiel 12:24; "" חלמות Daniel 1:17; "" נביא Daniel 9:24; ׳חזה ח
Ezekiel 12:27; Ezekiel 13:16; ׳ראה ח Daniel 8:15; ׳ראה בח Daniel 8:2
(twice in verse); Daniel 9:21; ׳דבּר בח Psalm 89:20; חזון נראה אל
Daniel 8:1 vision appeared unto; ׳מצא ח מיהוה Lamentations 2:9 find a
vision from Yahweh; also Ezekiel 12:22,23; Daniel 8:13,17,26; Daniel
10:14; Daniel 11:14.
vision, in the night חֲזוֺן לַיְלָה Isaiah 29:7.
divine communication in a vision, oracle, prophecy ׳בקשׁ ח מנביא seek a vision (prophecy) from prophet Ezekiel 7:26; "" דבר (יםׅ 1
Samuel 3:1; 1 Chronicles 17:15; חֲזוֺן לִבָּם יְדַבֵּ֑רוּ Jeremiah
23:16 a prophecy of their own hearts (minds) they speak; חֲזוֺן שֶׁקֶר
וְקֶסֶם אֱלִיל וְתַרְמִית לִבָּם הֵמָּה מִתְנַבְּאִים Jeremiah 14:14
FALSE vision and (see אֱלִיל) worthless divination & deceit of their
own hearts they are prophesying; ׳כתב ח write the vision Habakkuk 2:2;
also Hosea 12:11; Habakkuk 2:3; Proverbs 29:18; Ezekiel 7:13 (strike
vision, as title of book of prophecy, ספר חזון נחוּם Nahum 1:1; ישׁעיהו ׳ח Isaiah 1:1; עבדיה ׳ח Obadiah; of other writings of prophets
2 Chronicles 32:32.