Water plugin: water color not showing in unreal engine 5.4 (electric dreams environment)

Hey Guys, stuck with a very weird issue. The water color is not showing in unreal 5.4 electric dreams environment. See first image, notice how the bluishness is all gone. Some notes:

  1. the colors are working well in 5.4 new project (see second image). This uses the same material so i suppose the material is ok.

  2. Same is working well in 5.3 electric dreams too (see third image). So doesnt look like an electric dreams issue

  1. In case it helps, strangely when i open the same material in 5.4 electric dreams vs 5.4 new project i can see difference in options available (like caustics missing). See 4th image. So am guessing somewhere i have some global setting overwriting this

  1. same issue with other water bodies (lake, ocean)