In your case I think it's the best option, but time and time again I saw how people tried to hermetically seal stuff outside and it almost always fails. Why? Because of the fact that all it takes is a tiny leak of air which lets in humid air which then condenses leaving a rusting sometimes dripping circuit board! If something is above ground I alway found it best to leave a drain hole at the bottom which at least lets the water get back out.
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