As the spare engine is sometimes lashed to the deck, it can be suseptable if the boat is swamped, pooped or exposed ito heavy weather.
I agree the best way to sucure the engine is to lash it down on a foam bed.
For complete peace of mind, Avon make a waterproof outboard engine bag, made of Hypalon, that the engine can be kept in untill it is required.
It was produced by Avon for the milatry and commercial market, for air drops and sub marine deployment, etc
As the spare engine is, hopefully, rarely or never used, this bag ensures that corrosion is kept at bay and the engine is kept in A1 condition, for when you need it, drifting down on that lee shore in a F8.
Should imagine its on their website.