Yes, the link that switchboardai provided is indeed where the solution was for me, specifically this part helped:
Head over to your project’s folder-> config → DefaultEngine.ini
Slide down to your collision profiles and search for WaterBodyCollision. You likely won’t find it, we can add it here directly.
+Profiles=(Name="WaterBodyCollision",CollisionEnabled=QueryOnly,bCanModify=False,ObjectTypeName="",CustomResponses=((Channel="WorldDynamic",Response=ECR_Overlap),(Channel="Pawn",Response=ECR_Overlap),(Channel="Visibility",Response=ECR_Ignore),(Channel="Camera",Response=ECR_Ignore),(Channel="PhysicsBody",Response=ECR_Overlap),(Channel="Vehicle",Response=ECR_Overlap),(Channel="Destructible",Response=ECR_Overlap)),HelpMessage="Default Water Collision Profile (Created by Water Plugin)")
Copy and paste that under the collision profile list, then launch the project and check for it in the water as well as in the project settings.