I will try not to change a bait unless I have to. I have cast out a bait smelling of me, once it has been taken by the fish it is now acceptable to the fish, putting a new bait on may mean I have to start again, and that may be having to wait for 48hours.
I have had takes where I cast out at the start of a session, and it did stay in place until I got a take. I knew the water, I knew some fish were particularly wary of 'new' baits, and would leave boilies for a couple of days until they were 'convinced they were safe'. Every other angler would reel in, fresh bait and recast.
Even on day trips, I have had numerous fish on one hookbait, until that bait is 'marmalised', or pulled off the hook/hair.
Get your rigs right, use PVA to protect the hook and there should be no problems with the hook being masked.
At the end of a session, my wafter or meshed pop-up hookbaits get taken off, put in a tub and reused next trip. By drying out, they regain their buoyancy.
I've again had loads of fish caught on those reused hookbaits, in fact the 23 from the other week was caught on a meshed hookbait out of the re-use tub.
The very fact that baits take on water may be to their benefit, especially if fishing over any groundbait or particle.
If you are reeling in every day on a longer trip, a fresh stringer, mesh or bag and leave the hookbait alone, do not change it unless you absolutely have to.