This shader was made using Unity's shader graph
It has a distance node between the water and the sphere, same positions to get the Y value on the water to get a vertical cylinder shaped mask. And a new mask getting everything below the sphere. At the end there's a lerp node that joins everything, T parameter being the sphere bottom mask.
Used the same mask to create the water splashes color around the sphere, the rest is just noise nodes colored and with tilling.