Other things may be underwater turbines for electricity generation in which case the entire unit may be submerged ...
Hrmmm yes this would likely be best done in a water tight enclosure but there may be other reasons to want one that will function underwater I wonder if a plexiglass enclosure all sealed would allow it to get an accurate reading as I am sure they make water proof terminals that you could use for your wiring if need be if you mounted the case in the correct spot maybe you could get a reading.
Maybe they make an underwater tachometer ? might be a better route?
Where I buy my ESP8266 boards from... (Banggood)