If you can't find a cheap fish finder to hack, or if bump sensors won't work, you could try the US$100 Maxbotix MB7078, an ultrasonic distance sensor intended for air but reportedly usable as an underwater distance sensor in swimming pools and similar size tanks.
The generally-accepted position of many active posters on this forum is that inexpensive ultrasonic sensors intended for air categorically will not work under water. Plausible science-based reasons are given for that position and the associated claim that ultrasonic transducers intended for underwater ranging are expensive and "require sophisticated, high frequency and high voltage (typically 200V) electronics to operate."
However, that flies in the face of "actual" experiences reported in links in post #3 of the following thread describing success using intended-for-air ultrasonic sensors under water. Help! I can't use an underwater ultrasonic sensor. - Sensors - Arduino Forum
The following link from Maxbotix, a reputable manufacturer of high-end ultrasonic sensors intended for air, describes the challenges of using them for ranging underwater, and it also has some links (at the bottom of the article) to users who have successfully used their intended-for-air sensors under water, even though the "kluged" waterproofing in one of the examples looks "incredibly clumsily built" as one forum member put it (of course, "looks" are irrelevant; what is important is "function," and function...including underwater ranging...has been demonstrated).
My personal experience is that the common and cheap JSN-SR04T "waterproof" sensor does not work under water. Hacking a cheap fish finder or using bump sensors is probably the best way to go. If you do try the Maxbotix, please report back!
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Added the following, for completeness:
@wvmarle reports that the sensor mentioned in the following link can measure the depth of liquid in a container when its head is held in the water just below the surface, so it could do what the OP wants (detect imminent collision of a model sub with the side of a pool). It has a limited range... 2 meters, max...but its blind distance is only 50mm - much better than the Maxbotix minimum reported distance of 20 cm in air (and thus presumably about 90 cm in water). And it is cheaper than the Max, too.
https://forum.arduino.cc/index.php?topic=528653.15
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