tricky shot being that iclone doesn't use fluids....
the way I'd do it ...is use a mesh model of a water drop ....or even a transparent image on a billboard ...and for the splash part, I'd green screen it in ..with a clip like from this youtube video. there are many ways you can do this ...including mesh deformation / morphing ....but green screening one will probably be the most realistic looking.and least complex way of achieving a shot like that.
also look up will veekes shop, he has animated drops.
https://city.reallusion.com/ContentPreview.aspx?i=JICba23d04650f5d7b37
☯🐉
"To define Tao is to defile it" - Lao Tzu