Dumb question: wouldn't non-conductive liquids be harmless? i.e., the USB port can in theory work even if it is immersed in some non-conductive liquid, no?
Also some companies like 3M actually make a collection of liquids specifically for immersion cooling in data centres, so it's mature enough that people are happy to use it even in a data centre setting.
Non-conductive liquids still might be corrosive, or might provide enough thermal insulation to cause heat build-up, or might leave some kind of residue that would be problematic, or...