In this tutorial, I`m showing how to create simple stylized water material in Unreal Engine. This material has everything needed: depth fade color and transparency control; shoreline foam size, count, masking and color controls; refraction; ripples on the water surface.
I made this material in UE4, but you can use it in UE5 as well.
To create this material, I also used Substance Designer to create a foam mask with a normal texture for water ripples.

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Artstation: https://www.artstation.com/akbutea

Software I use in this tutorial: Unreal Engine 4, Substance Designer.