When I turn on Water Lock, do the RF communications that drain the battery turn off (Bluetooth and cellular)?

When I swim, my iwatch battery dies sooner. If I swim for 1hr, my iwatch will have gone through low power mode and died. I start every swim by starting an Outdoor Swim event which puts the watch in Water Lock. While this locks the screen, I wonder if the Bluetooth and Cellular communications are still on and consuming lots of energy to try to get a signal through the water. The iwatch is unable to reach the phone which I’m not wearing in the water. The battery drain while I’m swimming has a similar rate to that when I’m running without my iPhone nearby