We have found that TOF type sensors not generally recommended for level sensing of water or other liquids that absorb some of the signal.
We did some testing on various setup and found that our results were very inconsistent. The only consistent result was if we used a float or put particles in the water.
Another issue we found was that if you get condensation on the window that is protecting the sensor, it would skew the readings.
Unfortunately the only real cost effective way to get good reading is still the good old pressure sensor.
