Yes, but they are dimmer in absolute terms. What counts, though, is the relative intensity when the backscatter is compared with the subject. HSS compensates the fact that at faster exposure speeds, the shutter curtains move as an open stripe from top to bottom and multiple strobes (as in stroboscopic) illuminate the sensor as the curtains travel down.
Thus:
The backscatter-causing particles and the subject will receive the same amount (relative to each other) of light in both cases - HSS and « normal » strobe. If the backscattering particles move in an HSS relevant way, i.e. extremely fast (we’re talking about shutter speed above 1/250 nowadays), then there is too much current and you should get out of the water asap. It should also blur the particles in a similar way for the standard strobe, if not more (full dump is longer than the stroboscopic action). And apart from solid structures, your subject will likely experience the same ripping current. It’s unlikely to be a great shot…
I think there are more important reasons to use HSS than backscatter reduction, but in the end it’s user experience than counts - and I cannot provide that for underwater. But top-side I can attest that HSS is not the solution for when it snows 😞