In case you missed it, back in early August, Game Developer Matt Newell, who is currently working on Lushfoil Photography Sim, presented an ultra-realistic umbrella shader made for the game. The shader consisted of a single-layer water material with Normals that involved some panning textures and particles being fed to Render Target and, much like the rest of the game, was powered by Unreal Engine 5.
A month and a half later, the developer showcased a new and improved version of the shader that pushes digital realism to a whole new level. While being just as awesome as the first iteration, the upgraded version is more refractive, making raindrops on it look even more realistic than before.
For comparison, here's the earlier version of the shader:
