Restricting your puppys access to water has very few instances in which I would recommend it.
In the first case the water bowl becomes a "plaything" and not something to drink. Puppies and their gangs will use their water bowl as a mini swimming pool by dipping their noses in it or putting their paws in it.
A puppy (or a few puppies) will not get too excited if the water bowl is removed for a short time.
Furthermore it will save you time by preventing you from having to clean up wet floors over and over again.
Another situation is when puppies are young many people remove their water bowls at night.