That is what aquaplaning is, loss of contact with the road surface due to the wheels riding on a layer of water. It does not matter how many wheels are driven if they're not in contact with the road, and an aquaplaning wheel doesn't have that contact.
I am aware that 4WD or AWD can be advantageous before the wheel loses contact with the road.
I'm also aware that is usually momentary and not like a long boat cruise. I do know the advantage of 4WD having experience of an Audi S2, S6, Evo 4, STI, Discovery, Range Rover, Sport Rider and Fortuner.