[Spoilers]
It looks like there's a bug going under the lake for the second time, I have tried getting to this point several times while taking similar but slightly diverging options and everytime I end up going under the lake to read the word I get to no more options after reading it.
Here's an example save file slightly before the point where it occurs: https://pastebin.com/2DpERGRe
(I've tried going back to an even earlier save file, but if I make the same decisions to get here, even if they're in slightly different orders, the same thing happens)