What are physical scenarious which can be modeled as multiplicative noise? Consider $s(t)$ as the signal, $w(t)$ as the noise, and $y(t)$ as the captured signal. Usage of additive noise model, that is $y(t)=s(t)+w(t)$, is quite wide spread, example in speech and audio signal enhancement, and is also physically convincing to hypothesize. The convolutive noise model,that is $y(t)=s(t)\star w(t)$, where, delayed copies of the signal overlap together is another widespread model. A physically relevant scenario for this is reverberation modelling.

My question is - Is there a physical motivation to model noisy signal using multiplicative noise model, that is $y(t)=s(t)w(t)$? I am unable to think about any convincing physical domain examples where this happens in reality.
In communications, a very important multiplicative model is a flat fading channel where the received signal can be modeled as

$$y(t)=h(t)\cdot s(t)+n(t)\tag{1}$$

where $h(t)$ is the time-varying attenuation caused by the channel, and $n(t)$ is additive noise.