ESPHome - How to use variable refresh interval for sensors

sensor:
  - platform: pulse_counter
    pin: D7
    name: "Watering plants (flow)"
    id: water_flow1
    update_interval: 60s       # slow counter, will be overriden
    filters:
    - filter_out: nan
    - lambda: return (x / 450.0) * 60.0;
    unit_of_measurement: "L/hr"
    icon: mdi:water

switch:
  - platform: gpio
    name: "Watering plants valve (transistor, 12V)"
    pin: D6
    id: water_valve1
    restore_mode: ALWAYS_OFF
    icon: mdi:water-pump

interval:
  - interval: 5sec
    then:
      if:           # fast flow updates if valve is on OR if flow is detected at sensor interval
        condition:
          or:
            - switch.is_on: water_valve1
            - lambda: return id(water_flow1).state > 0.0;
        then:
          - component.update: water_flow1