The only source of light under water is the light that is refracted from the outside. Also there is a fact that the light that is refracted into the water surface will be partially polarized.
Partially polarized meaning that the refracted light has all planes of electromagnetic vibration other than the plane of vibration of the reflected light at the surface of water. As explained by below diagram:
So from this we can understand that any light under the water will have all planes of vibration except the plane parallel to the surface of the water.
Hence using a polarizer that acts in the plane parallel to water surface will allow no light (theoretically) but a very low amount of light (practically). Using the polarizer in any other angle will result in no notable change.
From the explanation, circular polarization on underwater photography is possible. But in my opinion its more of useless. There is no real use of it in underwater photography. So it is not used for underwater.