If I drop a bucket of water from a height, what (if anything) happens to the air pressure on the water?

I’m considering the clarified question:

I was considering it a question about the pressure changes on the portion facing down vs those upwards.

My understanding of the physics of drafting was what I was considering. Not sure why that is hard to understand?

@TriPolar I guess then my understanding of the physics of drafting has been wrong?

I understood that lower pressure forms behind the lead cyclist dragging on them. A cyclist behind them benefits by being in that lower pressure zone and to a lesser degree benefits the lead rider by reducing the the drag on them. Someone in the middle of a larger peloton gains the most benefit.

That effect, however I may be misunderstanding it, is big enough for me to be able to notice even at the speeds I was able to hit.