There are usually about three big puddles on that road. One is near the lake, as you said. Then a couple of others are a little further up. I would chicken out when I saw them while I still drove a regular car. When I first got my 4wd Tiguan, I was bold enough to go through them. They weren't a problem, but were actually deeper and softer than I expected (and I always drive as far to the side of the road as possible, keeping two tires on the firmer ground).
Haven't been there for a few months, but I think you will be OK in a 4wd vehicle if you use a bit of common sense. Usually it's a pretty good road if you approach from the North also, and take Chatsworth Rd from where it splits off 563 just South of Chatsworth.