Thompson’s keeps water out, but allows UV rays to penetrate to give wood that weathered look.
I have used it extensively on a wood deck I built at my last home and it worked as advertised. The wood did not rot (over 25 years) but acquired that grayed look you want. I say use it on your bridge, regardless of what others are telling you. That’s my 2 cents. (https://largescalecentral.com/externals/tinymce/plugins/emoticons/img/smiley-wink.gif)