Rideable animals float above water when dismounted underwater. If you mount horses and donkeys they correct but if you mount a pig it stays floating until you bring out a carrot on a stick.
Steps to re-create the issue:
Create a 4 block deep water pool
Build above the waters surface at least 5 blocks
Mount and tame a rideable animal
Walk the animal into the water
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I noticed it was much more reliable to get the floating result if the player was to move while underwater (which moves the mountable entity to the side, then pushing it up)
I could only replicate this a couple of times so it seems to be a bit finicky, but nonetheless I was able to replicate it with both the pig and mule.
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