What's wrong with water and cooling blocks? I'm sure they could develop some quick connect hardware, paired with sensors and valves, so that any leaks could be auto-stopped.
You could build the connectors such that pressing and holding the release button causes the whole loop to drain by suction, for near zero dripping as long as you wait a few seconds first.
Meanwhile immersion cooling is the opposite - Just build a tank and drop your stuff in it. Modern immersion cooling fluids aren't like mineral oil so you don't end up with components permanently coated in oil.
There's no pressure to push anything off it's connector, and in the event of anything failing and disconnecting in a major way, the loop starts draining the other way by atmospheric pressure.
Water pumps are pretty cheap, you could have triple redundant pumps per rack for an irrelevant cost.
Air pumps are also cheap. You could even enclose your connections to heat blocks in a second layer of slight negative pressure, that would both contain any drop-an-hour leaks that somehow happened, and funnel it to a humidity sensor.
If they use anything like Fluorinert, I'm pretty sure a whole rack of this kind of tech could cost less than a single gallon of that stuff.
I'm actually kind of surprised consumer water cooling setups aren't like this. It might be a pretty fun project, and you could probably use 3D printed parts depending on how much you trust the active controls.
Keep in mind there are other hot chips besides the CPU. Memory, network interfaces, and power supplies all need cooling too. Most systems are hybrid: water for the few hottest chips and air for everything else.
I assume gaming PCs are where you'd start?
I've never actually had a gaming desktop or anything similar, so I'm not sure what that market is like or if anyone would pay several hundred dollars for one, or if any of those companies would ever hire someone for that without a background in this stuff.
I'm mostly in embedded controls and prop building, and have lots of incidental experience with water handling and compressed air, but I've never done anything related to data centers or anything significant with desktops.
The waterblock, just acrylic with some fittings, alone is in the 130 euro[0] retail prices. So, there is some market for enthusiast but it's not large, of course.
[0]. https://www.ekwb.com/shop/water-blocks/cpu-blocks/velocity2
In this case you would need to sell the whole kit already sealed by the factory to guarantee the absence of operator error. Perhaps the OEM could install the cooling system from the get go with high quality quick connect ports integrated into the case.
Don't forget to polarize the damn connectors so that you can't mix up the inlet and outlet ports.
I was thinking to not even use separate inlets and outlets at all. The connectors would be 3-port in/out/vacuum air, with the vacuum port meant to be very slightly leaky.
You'd wrap the whole entire connector in a silicone sleeve, so that any small leaks in the connector(If the negative pressure on the water itself failed) would be contained and sucked back through the vacuum hose and trigger shutdown.
For a prototype you'd just 3D print some connectors and wrap them with tape, and let a mechanical engineer figure it out if your ever get to production, since poor quality, leaky parts are a good thing in a prototype, where the goal is to prove that the server stays dry even when things fail.