https://www.gamespot.com/articles/sea-of-thieves-death-penalty-feature-wont-be-imple/1100-6457714/

Sea of Thieves developer Rare has scrapped plans for a proposed change, after harsh feedback from the community and a realization that their messaging around it was confusing. The "Death Cost" was included as a coming update in a set of release notes, suggesting that the Captain of the Ferry of the Damned would charge a small fee for each death.

The community was not pleased and let Rare know, loudly enough that producer Joe Neate issued a mea culpa and let fans know the Death Cost won't be coming after all.