No offense to previous posters, but I DO NOT recommend anything that 'encapsulates' rust.
This is an extreme example, but it shows what can happen when you encapsulate rust. The salt and water are still in there, eating away.
I highly recommend Fluid Film or Woolwax, with Woolwax being better but more expensive. These are lanolin based waxy oils. They are non-toxic and safe on all rubber/plastic components.
In 2020 I purchased a 2003 GMC 2500 with some pretty severe frame rust. I needle scaled the whole frame and took pounds and pounds of rust off, but I never came close to getting it all. It was NASTY.
What worked was applying Fluid Film over the next few years. By the second year, almost all the rust had fallen off on its own and the frame was clean black metal again. Also removing any kind of hardware got much easier, as the wax had acted like a penetrating oil.
Sadly I had to sell the truck... but was to fund my land cruiser, so it was a net positive haha.
These pics are right after a fresh coat of Woolwax. There's still some visible rust, but it definitely doesn't look like a 20+ year old Maine truck anymore.