How to reproduce:
1. Open the “WaterDeformerIssueRepro“ project
2. Open the “Island“ scene
3. Spam toggle on and off the “Decals/Caustics“ GameObject for a bit (More information about this in the comments)
4. Build the project
5. Open the Build and observe the Player by moving like in the Scene view (with WASD and mouse)

Expected result: No water artefacts
Actual result: Several water artefacts

Reproducible with: 6000.0.19f1
Could not test with: 2021.3.43f1 (Physical water shader not introduced yet), 2022.3.46f1 (Could not fix the “Water“ shader not showing up)

Reproducible on: macOS 14.6.1 (Intel), Windows 10 Pro (22H2), Windows 11 (Reporters)
Not reproducible on: No other environments tested

Notes:
- Not reproducible in the Editor both Edit Mode and Play Mode
- More information in the comments