Would wifi or bluetooth have enough bandwidth to transfer camera data? That would remove the high maintenance cable from the equation at least.
Putting the processor at the end of the actuator or sensor arm puts large stresses and vibrations on the electronics, I'd avoid it.
Industrial and armoured USB cabling exist, including 360 degree couplers[1], but obviously it is specialised. Industrial Ethernet is better (e.g. GigE Vision) from an integration pov.