iPhone restore and update stuck in loop

Hello

I foolishly dropped my iPhone 5S in water and it's entered recovery mode. I'm trying to boot it up again, mainly to retrieve my most recent photos which weren't backed up in the cloud.

When I plug it in, iTunes says:

I go through the process and update the iPhone and get this message:

Then when it restarts it tells me again that there is a problem with the iPhone and it needs to be updated or restored.

Can anyone help me break this cycle?

Thanks so much