When it rains, the ripple effects should be ideally rendered on top of the water texture, but it renders it underneath the water instead, making it not visible from the surface like it used to.

It's still the case with a fresh install with just Effective and Quilted Fabric API

This issue is present in version:

• 2.0+1.19.2 (Modrinth release)
• 2.0.1+1.19.2 (built using commit ddc6a66)

do you use any other mods?

Yes, I do have other mods that I use in the first two screenshots. But the last two was captured on an instance with just Effective and Quilted Fabric API installed, and the issue is still present.

Fixed in 2.1.1