Does sovereign glue work underwater?

I stumbled across an incredibly vicious trap. (Seriously, whoever came up with this, they need help)

In the bottom of a well contains water 20 feet deep. At the very bottom of the well, a sword sticks out of a pile of debris, hilt up. Scattered across the floor of the well are piles of bones. If a character tries to grab the hilt of the sword, they find that the hilt is covered with Sovereign Glue. To pull themselves free from the sword, stuck in the bottom of the well requires a DC Strength Check…

My question is, is there any source that says that Sovereign Glue would dissolve in water or any other liquid? Would this substance work as the trap is written?