Thanks for the information everyone, I really appreciate it!
It sounds like RS485 is the way to go if I want to keep it simpler and use methods similar (hopefully) to the Acculevel 0r Nanolevel sensors. The RS485 interface only requires 3.2 V, so does this mean that no voltage booster/level shifter would be required?
The RS485 version would have 4 wires in the cable (power, ground, RS485A, RS485B)… would I be able to connect this to the Mayfly using the EnviroDIY Multipurpose 6-pin Screw Terminal Grove Adapter?
At the moment I am a bit hesitant to be the first to try this sensor with the Mayfly given that I only have a very limited understanding of the electronics and communications protocols. If I were to do this I would need a fair amount of assistance along the way, and I have no idea how simple/complicated this would be.
If there were interest from others and expertise to lend, I could be up for the challenge.