How create Optical distortion effect I would like to make custom blender transitions similar to the first second of this video https://www.youtube.com/watch?v=mZvQ9ipTK_8

I know that in reality, it's a transition executed outside the rendering engine, added to the editing software. But I'm trying to find out if it's possible to get the same effect (with the nice animation curve that makes the transition visually beautiful) under blender, if so, how to do it?
Here is a test I made with EEVEE : 

As you can see, the effect is not as convincing, and there is a zoom that remains persistent.
I would be happy to have a realtime (or cycle calculated) but not copositor effect as the compositor can't give good real time feedback.
You can use Wave modifier for such effect.


Add Subdivision modifier, Solidify modifier and Wave modifier
Increase IOR of Glass shader to increase light bending
Use Life of the Wave for that smooth transition


Adjust IOR to increase light bending



Adjust Life (and perhaps Damping) for smooth transition