I don’t know if this might be helpful to you or not....
I have a PLC system at home performing many a function, once of which is the irrigation system.
I have a soil moisture meter (SMM) (a design made, or modified by our very own Audioguru). It too makes use of probes in the ground at it too have the corrosion problem if power is continuously left on. (BTW, my probes are simple 9” steel nails). The probes are inserted in a pot filled with dirt, and this pot is located well away from my irrigation system. The pot is exposed to open air environment, meaning it will dry out in warm sunny days, and will get wet when its raining.
My PLC runs the irrigation program always at night. It starts by switching on the power to the SMM. Allows a few seconds for the SMM to sense and detect the moisture level of the dirt, and then replies the status to the PLC.
Once the PLC has executed the result of the SMM, power to the SMM is switched off again, and it will stay off till tomorrow the same time. With this power saving option, I have been using the same metal nail probes for many a year, and they are still good. Yes, they are rusting up from the moisture in the dirt, but not from corrosion.
You might consider installing a timer on your probe sensor electronics. You will just need to latch the power ON when the probe does sense low level. Power must stay on to detect high level and then close your water SOV. Then power to the level sensor can be removed, and the timer will check again the next day?
Yes, No, Maybe?