Can the spell Water Walk help in the fight against a Water Elemental?

The spell Water Walk:

grants the ability to move across any liquid surface–such as water, acid, mud, snow, quicksand, or lava–as if it were harmless solid ground (creatures crossing molten lava can still take damage from the heat). Up to ten willing creatures you can see within range gain this ability for the duration.

If you target a creature submerged in a liquid, the spell carries the target to the surface of the liquid at a rate of 60 feet per round.

Water Elementals, thanks to their Water Form, ‘can enter a hostile creature’s space and stop there’ then use their ability ‘Whelm’ which states:

Each creature in the elemental’s space must make a DC 15 Strength saving throw. On a failure, a target takes 13 (2d8 + 4) bludgeoning damage. If it is Large or smaller, it is also grappled (escape DC 14). Until this grapple ends, the target is restrained and unable to breathe unless it can breathe water. If the saving throw is successful, the target is pushed out of the elemental’s space.

The elemental can grapple one Large creature or up to two Medium or smaller creatures at one time. At the start of each of the elemental’s turns, each target grappled by it takes 13 (2d8 + 4) bludgeoning damage. A creature within 5 feet of the elemental can pull a creature or object out of it by taking an action to make a DC 14 Strength check and succeeding.

Could Water Walk, by RAW, assist my PCs in their fight against a Water Elemantal?

Specifically:

  1. Could the benefits of Water Walk help prevent a target from being whelmed?
  2. Once already whelmed, could the benefits of Water Walk help a target escape from within the confines of a Water Elemental’s grapple?