National Geographic did a piece on this years ago. Their end conclusion was they really didn't know! There was a debris field but if was related to the Exodus that couldn't be determined, whether it was, or the remaines of an old shipwreck. They took into account the rate at which wood would rot. O2 levels are low in the sea so deterioration would be a slow process, and the ancient Egyptions used bronze which would not deteriorate. But the sea bed has layers over the centuries of sediment, so one conclusion was it would take a massive dredging operation to be able to get down to the the layer that was present at the time of the Exodus.
If so, that same sediment would have preserved any evidence, but any such operation would constitute a massive undertaking and years to accomplish. So it sounds like to me we are back to are you a believer or are you not. I have faith that it did happen, and that's all the proof I need. National Geographic did detail the reports from the ancient Greeks about the sudden loss of most of the Egyptian army.
What was interesting to NG, was those reports were made at about the same time period of what we call the Hebrew Exodus from Egypt.
The early Greeks didn't understand this loss, there were no reports anywhere of their being a major battle that could be attributed to this loss.