Can you record an apitrace? I cannot debug this without being able to reproduce it.
https://drive.google.com/open?id=1DRd4AxHiXSBQXVx_-Uw9vZxAYFqkBdaN
Got it. This trace was made with d3d11 and dxgi enabled since the game wouldn't run without them and I don't have a windows environment.
What kind of issue am I looking for in the apitrace you sent me? Seems to be working fine here.

The water flickers when you move the camera. Could be an Nvidia issue.
Probably is, can't reproduce.
Can you test if that is still an issue with the latest nv drivers (396.24 or even better, 396.18.08 (its actually newer than the other one))
Ping? Would be good to know if this works with more recent drivers (and dxvk).
Just tested the apitrace on latest NVIDIA drivers, wine 3.10, and DXVK 0.62, issue still present
adcc7a457367821edde436ff9a7dd45a579f4257 should fix this.
Nothing extracted yet.
When moving the camera in Okami HD, the water appears glitchy
Software information
Okami HD
Default OOTB setting
System information
Log files
A recording of the water glitch