As a former small boat dealer, I will chime in. First, experience has shown that you will get different things occur depending on the quality of the water the boat is in. Secondly, is the rudder going to be left up out of the water or not which is another.
First, the Great Lakes now have an issue with Zebra Mussels which can grow and really attach to a hull and rudder that is constantly in the water. In fact, every boat needs to be cloroxed or chorine bath of sorts or something to kill any of the zebra mussles if taking the boat on a road trip for example to another fresh water lake that does not have that infestation. As for salt water, zebra mussels only grow in fresh water and die in salt water. The use of anit fouling paints is strongly suggested if the rudder is left down in the water all the time. In some fresh water lakes, I have seen growth on untreated rudders and hulls worse than barnicales. Again, you need to know what critters is in the water to figure on the care and protection of the hull and rudder
If the ruder is totally left up out of the water, the use of epoxy barrier coats and anti fouling paints is not needed. However, dealing with an old rudder that is pourous, then filling in those pores with a two part expoxy and then followed by an epoxy barrier coat would be suggested to prevent the occurrence of blistering. However with any epoxy barrier coat or anit fouling paint, I highly suggest the use of light colors as the darker colors will cause heat build up in the rudders causing many to split.
A lot depepends on what is in the water and what you want to do for protecting if needed.
c razy dave condon