I think easier simplest and cheaper system are based on Davis vantage Pro2 ISS and Console. Using a Maxsonar Snow depth sensor (about 120$) lies to DAVIS ISS VPS conecting on RADIATION PORT. Need bridge the source regulated 3v for alwais sourced (to the radiation port only use ground and measures analogic signal) ..........
Interesting Idea.... However...since this thread concerns CoCoRaHS reporting, not personal or hobby, or a network just reporting snow depth, of which there are several... and a $30 rain gauge, a ruler, and a few other odds and ends from time to time do not equal the cost of the equipment you describe..
CoCoRaHS 'end goal' as a "citizen scientist' network is reporting of Water. (Oh, we report a lot more than water... even severe weather issues)
The mechanical measurements following the various suggested procedures, equipment for snow depth and water content should be followed, exclusively. CoCoRaHS would normally not accept electronic Rain, Hail, Sleet, New Snow Fall, Total Snow Depth, and water equivalent reports, if they were aware that was their source.