Underwater effect doesn't work with PBR Master shadergraphs.
It works with HDRP Lit transparent shadergraphs though.
Not sure if this merits immediate action - it may be a bug or limitation with PBR Master - but it would be interesting to know what is failing, so logging here.
Ive decided to close this - this is very unlikely to bubble up our priority list in the mid term, and it might just be ahdrp bug that gets fixed. I'll update this or reopen if there are developments.
Underwater effect doesn't work with PBR Master shadergraphs.
It works with HDRP Lit transparent shadergraphs though.
Not sure if this merits immediate action - it may be a bug or limitation with PBR Master - but it would be interesting to know what is failing, so logging here.