@Pyramas The major issue in terms of performance for the Community Ocean is that its beautiful reflections relies on the Planar Reflections which is a high cost component when dealing with large surfaces as an Ocean, because you have the time used to render the main material and the amount of time to render the reflections after that, that sums for large areas too much, which doubling by the needs of VR ends in a very slow rendering (lucky we only have two eyes). We will still offer this type of reflection, but we will provide a way for reflections not based on it or screen space reflections (which is not good for ocean) and this new method is not expensive as planar reflections is.
The expected release date will for sure be around UE 4.23 release, because we do want to make sure it will work with all the expected changes in the rendering module at the engine.