I was interested in Timescaledb recently but found the cost to be extremely expensive and you can only get all the good features in their cloud version as PaaS.

I would also suggest looking at Citus for scaling Postgresql. With the Azure reserved discounts, Citus is like less than half the price of Timescaledb. Citus also helps tremendously with multi-tenant scenarios.

Of course, depends on what you are trying to do.