Here is the A7R II different WB modes test video at 20m depth, ambient light.
<iframe width="640" height="390" src="https://youtu.be/--4pRdwSNYQ"frameborder="0" allowfullscreen></iframe>
Not sure how to embed a YouTube video
I think it's fair to say none of the white balance settings you tested do much to restore the warmer colors (including Underwater Auto White Balance) in the foreground subject (though it's a bit hard to tell -- ideally need to test with something in the foreground that's red/yellow under torches). This accords to my own testing. I'm not really surprised -- Sony's white balance system caps out at 9900k, and to execute an accurate white balance (e.i. to make a white/grey object record equal levels across the red, green and blue channels) you'd need something closer to 20000-50k at that depth, plus a strong magneta push.
If you have lights and the ambient light isn't too powerful, the best approach obviously is to just set the white balance to something that gives you nice blues in the water column (4300k-4800kl usually works quite well) and use the lights to illuminate the foreground once you're below 10 meters. You can use some warming gels on your lights if the light they produce is significantly cooler than 5000k.
But if you need to work with ambient light for some reason, the obvious solution is to add a orange/magneta filter to the lens to supplement the camera's custom white balance abilities. It's more inconvenient because you have to commit to using it for the whole dive. The results may also not be to everyone's taste. Here's some screen grabs from test footage shot at 15m and 18m with an orange magic filter, both with UAWB and with a custom white balance done off my palm:
http://www.andreiv.com/A7RII-Orange-Magic-Filter/n-WRgsbH/
Unfortunately, I don't have any footage shot at the same locations without the magic filter to compare, but you can look at the test footage Ammar shared from 20m to see how much of a difference the orange filter makes.
Note that the SLOG2 images are actually graded (just to boost the contrast so they don't look quite as flat).
I think it's interesting to note that the UAWB algorithm does not really push the reds as much as a CWB does. This has the advantage of preserving a nice blue water column, but the foreground reef and sand isn't quite as vibrant and remains a bit too greenish for my taste. On the other hand, with the custom white balance, I feel like the reds are pushed to the point where it's unnatural, and the water column becomes muddy, with a hint of magenta.
I can't say I really like either result.