Not only that, but as of 2.1.9, the Notifications app, can too. (It always could do something here, but the repeating notifications feature is new.) If you want to see how to do it in RM, this thread with examples from Bruce is always a reference I give people: How to get Repeated Notifications using Rule Machine
The difference between either of these options vs. HSM is at least two things that I can think of. First, with HSM, it will create an "alert" state that you have to clear (via the app, a Dashboard tile, or some other automation). Second, HSM has the ability to disable monitoring rules--something you could definitely add in somehow in a Rule, but disabling this kind of thing is one of the arm/disarm states built-in to HSM that you can set.