We used to treat wood with oil (literally from kitchen oil to motor oil). Apparently the Japanese burn theirs to treat it [1]. I don't think you have to leave it to rot out.
Keep in mind Yakisugi ("shou sugi ban" is a Western misinterpretation circa ~1995) is traditionally performed on wood which is already weather resistant, particularly Japanese Cedar ("sugi" is cryptomeria japonica, a type of cypress endemic to Japan). Even then they still treat it with oil regularly to improve its longevity. So I wouldn't char some white pine and stick it outside and expect it to last.
[1] https://www.instructables.com/How-to-Burn-Stain-Wood-Aka-Sho...