This will seem like a long ramble because it is just a collection of my personal experience tagging along on trips with older vehicles. Not an expert opinion or recommendation by any means:
Concerns over electrical damage are vastly overstated. It just isn’t that big an issue for most offroaders there that try to minimize the time spent in water.
The more extreme folks will do things like stuffing special sealant in the electricals, relocating interior wiring to the ceiling, bringing spare fan clutches, sealing off electrical blocks. Alternator/starter/fuses don’t seem to be affected most of the time.
The bigger concern is the trans/tcase/axles for which you either add or extended the factory breathers. Still a good idea to check all fluids every couple trips. There are also considerations with the snorkel quality, installation and maintenance.
Prevention is the best medicine. Enter the water slowly and only then slowly speed up to keep the wave in front of your hood. Always walk the seemingly “small puddle” before crossing.
If you happen to catastrophically flood the interior, and it’s sunny out, let it sit and just dry out. Insulation within door cards and in engine bay may fall apart. Over time, the wire harness will start falling apart and glitching, so try to dry it out too.
If you’re an idiot and entered say a fast moving river and feel the rig start to float, open your doors! It’s better to flood the interior and get towed away, than for you to get taken away/rolled over who knows to where.
But nothing is guaranteed. Occasionally people still do flood their electronics, hydrolock the engines or even write off their vehicles entirely. I see it as a similar level of risk to rolling over while rock crawling here in the US.
This all assumes freshwater of course, saltwater is an entirely different ball game.
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