Yeah the project works great for 4.12 
Although you should be able to just take the fluid surface actor from the official Content Examples. It’s in the Render Target example level, or something. Should be able to swap in some nice textures, adjust the material, and have something that’s basically .
A lot of people are working on water solutions on their own. Should see more stuff pop-up in the next few months. Or you can always use Nvidia gameworks water.