Pack the water meter frost-proof

Hello, I recently bought a plot of land with an old house that is also supposed to be demolished eventually. Now I have the problem that the water meter is mounted on an exterior wall and the supply line comes about 50cm out of the ground (PE pipe). There is no basement and thus it is on the ground floor. The water meter itself is already defective, meaning the reading dial, and someone from the water supplier will come soon to install a new one. The problem is that we only want to start building in about 5 years, and until then I don’t need any water. I told the water supplier to shut off the water line at the street to be on the safe side so nothing bursts. Then they said that after 5 years it would count as a new connection (because the valve would be turned on again?????....very strange). When the technician comes I will just ask him again. But how could I protect the meter anyway? Just wrap 160mm Rockwool insulation around it or Styrofoam? Is that enough? Best regards, Ronny