This phrase Deep Water has 3 meanings in English, and you’re welcome to use any of them creatively.

• First: it means a situation when you’re in trouble and danger, struggling to escape. That happens a lot in stories!
• Second: it could mean profound or meaningful water – perhaps the waters of life or healing that are also found in stories.
• Third: it could simply mean water that goes down some way, for instance a well or river.

For those of you translating this theme into other languages, it’s probably hard to include all these meanings neatly, but try to prioritise them in this order.