Regression: Tested in UE5/Release-5.0, issue also occurs
User has stated that they were using the Exclusion Volume to create a hole in the water for a cave or tunnel so that the water is not visible. The Exclusion Volume does block out the shader for the water while inside and underneath, but the surface of the water is still visible. If a user were to use this to create something along the lines of a cave/tunnel, the surface of the water would still be visible when it should not.
Actual Result: Exclusion Volume removes the shader for the water body while within the box, but the waves for the surface of the water still remain
Expected Result: Nothing from the water body remains within the Exclusion Volume
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-170684 in the post.