I’ve also noticed that when your camera is placed under the water it gets completely covered by the color instead of it being semi-transparent
(Could be related to this but idk)
This is not a bug, and is intended behavior. Water transparency is only rendered when close up with high quality graphics and fades into the base WaterColor color provided as you get further away. The settings chosen here (zero reflectance, white WaterColor) make this effect especially noticeable.
We currently don’t plan on rendering full quality water at all distances. What I might recommend you to do is play around with the settings to make the effect less dramatic. For example, here’s an example of the scene, but with a different WaterColor value: