It might be that the 1.18 preview datapack contains 'experimental' terrain generation, and Realms specifically does not support experimental features. "Working as intended"
Only the admin of a Realm can trigger the upgrade. There are people talking about it on Reddit and how it is succeeding.
Just confirming in 18w43c - water surface and underwater gravel spots in particular. Both resolved by nearby block updates.
You should be able to edit this - I suggest adding "RESOLVED" to the title, and mark the Security as "Private" so noone else can see it. There is also a tag called Resolved. Just did it myself for an old case that is already fixed 😁