Don't bypass the switch to leave the meter constantly on. This will kill the sensor on the hull bottom. The hull/water/sensor form a battery, and when you use the meter to read the battery's voltage (by pushing in the button) you are using up the battery to drive the meter. It's not much, but you don't want to have the meter running all the time.
This would not be a problem if you used a high-input-impedance meter, such as some digital voltmeters, but that would require a 12v connection to operate the digital meter. Probably not worth the effort.
It is likely something fairly simple such as a bad switch or bad connection somewhere.
1975 32' Flybridge Sedan, twin Perkins 6-354 diesels, 1:1.53 velvetdrives, 16 X 19 props. Merritt Island, Florida