> sinking ships can only be done when near the surface.

Isn't this itself a huge assumption?

Sinking ships via upward facing torpedoes would be a huge tactical advantage at first glance. Less time to detection and deploy countermeasures or evasive maneuvers.

Perhaps, I am wrong in assuming they cannot be fired below a certain depth?

just watched: https://www.youtube.com/watch?v=V-mzZXwCn68&t=2s

while these torpedoes are going in the other direction seems like the technology for surviving, functioning and navigating depths definitely exist.