If water was truly incompressible, sound will propagate very well, with sound speed approaching infinity...
I also do not like to use compressibility, as this is, again, inversely proportional to sound speed.
I prefer to use a term such as rigidity or stiffness, something meaning "hard", not soft.
For the same reason I find wrong to refer to anything related to mass, such as density, as again it is something inversely proportional to sound speed.
So I would say simply that in water sound travels faster than in air because water is stiffer than air.
Or, even simpler, just avoid the "because" at all.
What matters, as I have already explained, is that the sound speed is much larger to what we are used in air, hence we cannot easily localize where the sound is coming from.
This is all that matters for a diver.
No need to provide a wrong (or correct) explanation of what causes the sound speed underwater to be so large.
It simply a fact, we do not explain why water is denser than air, or why it has larger thermal conductivity, making you feeling cold.
We should just provide the facts, not the cause of them.