I couldn’t find the said graph, but thanks now I understand better what’s causing that. I’m now almost certain using custom depth write is the only way to go.
To add more details to this thread, that’s what we’re currently having:
Using some logic with distance fields and Stencil mask, we can mask out the water surface from inside a mesh, and also the PP effect when looking from inside, or from above water (that’s why we need a huge invisible box).
I will return to this post if we get to workaround the translucency vanishing when going under the SLW mesh.