I would be using a small diameter flap wheel to really clean out the bore hole that the sensor goes in, even making bit a slightly larger hole in the process, then put the sensor in with a soft setting mastic, enough around the sensor so it fills the gap between the sensor body and hole, any excess that may get on the end can simply be trimmed off, doing it this way ensures there is no air space, and so corrosion can't form, if needing removal simply push out from driveshaft side.
tabetha