Since 1.20.30 the water sounds are now broken for Non-Player mobs entering and exiting water. Here is a link from my last stream where you can hear our Iron Farm making a ton of water noise from Cats moving around in the water.

https://clips.twitch.tv/BombasticPlacidDragonflyCharlieBitMe-fGdnq1rHr7yAA9SP

It's also really bad when a Slime is broken down to Baby Slime and they're trying to attack you in water that's one block deep. ALl you can hear is the sound of water. It's awful and loud.