If you are actually measuring the vacuum pressure, then you could use an absolute pressure sensor inside the water and do the math in the PLC to compensate for the pressure / vacuum above the water level.
We do this on all our new deep well bore level sensors... we used to use the hydrostatic level sensors with the compensation tube, but even with the little filter on the end of the tube we found they would fail regularly with evidence of condensate in the tube. At around 150m deep, there was pretty much always a difference in temperature across the cable / tube.
We now have an absolute sensor in atmosphere measuring atmospheric pressure, then a fully sealed absolute sensor down the hole, and just subtract atmospheric from the bore sensor reading and convert to metres water head