I got a #4 hook in the skin between the thumb and forefinger in June. It was actually somehow thrown in with some towing straps. I got it while straightening out a tow line to pull out a truck, which was trying to pull out a UTV, etc. Anyway, I kept working and it had gotten too sore to remove by the time I tried. I pulled the skin back toward the barb so the shank was not exposed and cut it. It has been very sensitive to the touch. Now I can still feel a small bit, but not too sensitive. It has dissolved, but has taken a long time.
If you think there is a danger of deep hooking, get cheap hooks; try different types in weak solution of caustic and watch for results. My opinion is that if always under water, it will not rust but may dissolve in due time, but probably too late. May as well enjoy the meal. Use circle hooks with live bait.