The way the heating elements are build is a stainless steel pipe and inside that there is some sort sand like Magnesium oxide powder and a resistive heating element. So failure will mean that the heating element at some point will burn like a fuse and thus no current flow thus no hot water.
The 400W 36V element will have a resistance of 400W / 36V = 11.11A 36V /11.11 = 3.24Ohm
Not sure what are you using for diversion as DSSR20 can not handle two of this panels.
-5C air temperature means panel temperature at around +20C so very close to STC but if it is windy panel temperature may be lower so even higher open circuit voltage.
Also solar output can easily get to 1200W/m^2 either from edge of clouds effect (that usually will not last long) or from snow reflection on the ground or a combination of both.
Even at 1000W/m^2 with about 39V / 3.24Ohm = 12A you are at around 470W and you will be there for many hours assuming the thermostat will not stop the heating.
You may also have problems with water stratification meaning water will be at +55C but only at the top of the water tank.
I have no idea how long will the heating element last if used at 470W instead of 400W. Maybe you find it OK if you need to replace it every two years or so.
Depending on how large the tank is you may not even need that power level.
1000W / 48V = 20.83A 48V/20.83A = 2.3Ohm
Then 37V / 2.3Ohm = 16A 37*16 = 592W about 1200W per heating element 2400W total about the same as you will had with those 3x400W heating elements if you where not exceeding the limits.
This 48V heating elements are used under the nominal power so they will just last forever.