That is exactly what I’m trying to do, just explained it a bit different in my previous post.
I was thinking that the splashes could be spawned on the x,y plane around the player at z height zero, with a very short life time. Then just sample the scene depth capture texture to adjust the world position offset up/down to match the value in the render target texture. It is this bit I’m not quite sure about. Since the splash is an actual 3D mesh, you don’t want all it’s pixels to be rendered at the same height, which will flatten it. So each pixel needs to take into account the height and is z value of the mesh, so the splash mesh retains its shape.