If you open a waterlogged chest while standing on top of it, the oxygen bar appears

As the title says is just a minor bug because you actually don't die it just shows you you are drowning for a sec and repeat.

Steps to Reproduce:

1. Place a chest in the ocean
2. Stand on top of it
3. Switch to Survival mode
4. Open and close the chest

Observed Results:
The oxygen bar appears and disappears repeatedly.

Expected Results:
The oxygen bar shouldn't appear at all.

https://drive.google.com/file/d/134e-mIAeOXJXluPhu5uLXHqpXqOgJ8rj/view?usp=sharing