Waterproofing internals help

Hey fellow Wyze guys! I know there was a thread in the community on waterproofing but that has been closed and linked to within the roadmap. I would like to protect the camera (wyze cam v2) internals a little for outdoor use and have seen many posts around the web where clear nail polish or conformal coating is used for drone circuits which seems fairly simple enough. However, I also read that any heat-producing elements as well as heatsinks (also leds, sensors, contacts, terminals, etc) should not be covered with anything to ensure overheating is minimized.
I’m wondering if anyone has any pointers for me to help identify which areas/components on the internals should be masked before applying any waterproofing?

Thanks in advance for any advice!