Knowing the R22 well, I'd carry on into wind, if the water is 10 feet or 100 feet deep it doesn’t matter - you are still swimming. Do you want to hit the water at speed (10 knots plus 30-40 at the bottom of the auto) or not (30 -40 minus 10 knots)?
I think that realistically by the time you reestablish RRPM (climbing out remember) and get things settled down, you are probably better off concentrating on getting to the water in one piece.
At least if you can enter the water without smashing things up you will be able to swim away. I would assume lifejackets are worn over the water and that you are at an airfield? A mayday call would be quickly responded to.
However without a lifejacket I would be keen to reduce the swimming distance, but not at the risk of hitting the water at high speed.
