If you are primarily interested in what happens near a coastline or in a bay, then the most accurate solution will likely be a computer model that also include realistic boundary conditions. See these computer models of a dam break and waves in an irregular water body.

The possible initial conditions for an asteroid impact could be so large that planetary material is ejected into orbit. The Martian meteorites found on Earth are believed to have originated from a impact on Mars. In a large impact, the height of the rim wall might not be an accurate estimate of the maximum altitude material was actually thrown.