The water from my project for UE4.27 looks good, but UE5 has such artifacts. Motion blur tried to turn off - no help. And the animation of the leaves does not look blurry, so it’s not a blur, as it seems to me. Any guesses?
It looks like it’s broken into pixels.
I think you’ll find it’s Lumen.
No, it turns out it’s in the Anti-Aliasing method. I have TSR, if you change it - the water will look good, but a ladder will appear. I do not know what to do
A ladder? To help you out of the water perhaps… ( joke )
The picture is sharper and not beautiful 
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I’m new to building in UE5 myself so this might sound dumb but have you tried the Water Body features? In case you haven’t, go to the Add to the Project dropdown. Go down to All Classes and type in Water. A number of options will come up. I tried to build a water material for a flat plane that never worked. Then I found Water Body Custom and I was amazed. It might be something different but I thought I would throw that out there. Good luck.