The shader was made for VR by Solo Game Developer Khena B.
Solo Game Developer Khena B, who is working on a sci-fi action-adventure platformer Dread Somber, has showcased a realistic WiP water shader made for virtual reality. According to the developer, the shader was made using Unreal Engine 5 and consists of a water plane, masked post-process shaders, and a decal shader to set up the caustics. Additionally, the author utilized Unreal's SceneTexture to create the distortion effect.
In the future, the developer also considers making this shader available via Unreal Engine Marketplace. You can learn more by visiting Khena's Twitter page.