Separately from how you present the number, the very concept of "uptime" as a single number is a bit muddy in the context of a distributed system, where different components can be differently available for different users.

Also, 0.1% downtime in the form of a 45-minute outage per month is very different from 0.1% of requests failing in brief bursts. You often see downtime reported as "increased error rates" which is so vague as to be meaningless.

Google's "windowed user-uptime" attempts to deal with this a bit better, by exposing different views of the data instead of trying to condense uptime into a single number: https://www.usenix.org/system/files/nsdi20-paper-hauer.pdf