Enderman
(Enderman)
38
Potting does literally those three things.
It is thermally conductive to help cool the electronics, it is waterproof, and it is a solid which strengthens all components against shock and vibration.
Of course there is some potting material which is not thermally conductive, which is why I recommended buying one which is.
You do not need a separate material for separate tasks, this is the year 2018 and humans have evolved a lot.