water body ocean not reflecting changes to water material or wave settings

I’ve been searching through the forums and can’t find anything like this…

No matter what settings I change in the waves settings for water body ocean, no change to the appearance happens. Same with the material, no matter what material I put on for the water, nothing changes.

I am in UE 5.03

sounds weird, 5.0.3 is a preview so I suggest moving up
if you have ‘fixed water depth’ enabled in material then wave settings like amplitude and stuff are ignored