If you are talking about a true "Hot Tank" as in the heated Sodium Hydroxide version, it will react quite violently with the Babbitt, but.....aside from the cam bearings, what Babbitt material would be left in anyway once it is torn down?
If you are doing a rebuild, none of those parts will be left in the block anyway, including cam bearings. Chances are, you won't find a shop with a real hot tank anyway since they've pretty much all changed to spray wash cabinets (with aqueous solutions) or ovens. I long for the good ol' days when we had good stuff that really worked. If you do take it to someone with a spray-wash cabinet, don't accept the results until you've run your finger along the oil supply troughs. A spray cabinet won't reach that important part cause it's in the "shadow" of the trough underside.
Frank

I cant find a shop near me that still "hot tanks". After stripping a motor down, i spend an hour or more steam cleaning the block before taking it to the machine shop. They put it thru their cleaning process (cooking) and then doing any machine work. I steam clean again when i get it back.