While I have ridden in the rain and usually have no ill effects, the last time my bike was parked outside in a heavy rain storm, I did have a harder time starting and the instrument lighting "flickered" which was rather unnerving, riding in it. Just do not want to invite trouble and not wet down the bike other than from a spray bottle onto the microfiber cloth before contacting the bike...JMO and as I have said before, it is your bike and you make the choices and I err on the safer side.
Also, looking at the connectors used, some have decent protection (Deutsch) comes to mind, while others are midway (Amphenol) to poor (Molex or other) with wide open backs or wire pass thrus, and of course the worst (3M Quick splices), open backed slide switches (the handlebar controls, and the less than spectacular unsealed gage faces.