i believe an underwater update has been long overdue for a while now as we now have weapons, a large islands, dynamic weather, this game is mostly water based with rescues and exploration, but there is not much to explore underwater.
the only place to explore that's worth the trip is the dragons cave but that is still very small. an update based around underwater exploration would give submarines more of a purpose and would be long awaited by the community.
an few small trenches, small caves, some large caves and rocks would be a great edition for exploration and possible missions to rescue divers/ lost subs or cargo.
a kraken was suggested and in the update vote which this would be the perfect opportunity for a major update, with the kraken possible spawning around a very large and deep trench like the Mariana or Tonga trench. this would add great opportunity for custom missions and environment mods.
thank you for reading my suggestion, please just think about it, it would be a great edition to a underwhelming part of the game.