Rotary dial switches types

I’m aware of a rotary dial switch in which the ring has a small magnet and the light a Hall effect type switch - some diving lights use them to assure water resistance. But the Hall switch needs to be powered all the time, and I think that may increase parasitic drain when the light is off. Are there other typed of rotary switches that can also be made reasonably water proof?

Looking at datasheets, it seems that there are hall effect sensors which consume power in the nano amp or low micro amp range, so the power consumption could be negligible if it’s done right, maybe.

From an older thread, but I also read some claims that it it may be high enough to start worrying about it. I wonder if Hall switch is the only way of implementing rotary dial (out of curiosity, not necessarily excessive drainage concerns).

Two other quotes on the topic:

A rotary encoder could be used, or a pot. The coupling between the dial and the encoder or pot could still be magnetic, i.e. no chance of ingress at the dial.

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Dual switch like RRT01