Yes it does expose you to a greater extent. Im not sure how the "code" handles visibility I havent been detected yet.
Then again I tend to lay in wait at around 80 feet listening on the sonar untill the target gets close to launch angle then I pop up, a few last minute adjusments and take the shot.
But I think there is a mod to tone down the waves.
Look in the modding forum you might just find what you want
