I dropped my iphone 11 into water

Hello ~ Do NOT blow dry it! I would take it in to the Apple Store but be aware water damage is not covered. Take a look here:

Water and other liquid damage to iPhone or iPod isn't covered ...

~Katana-San~

iPhone and most iPod devices are equipped with Liquid Contact Indicators (LCIs) that you can see from the outside. An LCI will activate when it contacts water or a liquid containing water. The indicator's color is normally white or silver, but when it contacts water or a liquid containing water, it will turn fully red.

Water and other liquid damage to iPhone or iPod isn't covered ...

That, together with it still working, means you have the 99 out of 100 that survive a drenching.

Continue to back it up and consider automatic iCloud backups.